Oslo Stock Exchange rises broadly Friday, thanks to higher oil prices.
The time 1:24 p.m. main index up 1.1 percent to 520.84.
The turnover has reached 1.8 billion.
– Banks have a gun to your head
the exchanges both in Europe and the United States fell sharply Thursday. The bad mood rubbed off on the stock exchanges in Asia this morning.
Investors worry about how central banks ‘monetary policy stimulus will affect banks’ earnings.
– The idea that central banks now focus fully on the interest rate structure and a gun against domestic banks heads to fight to restrain credit growth, is by no means one share friendly story, writes chief strategist Chris Weston of IG according to CNBC in a note.
Oil Rally on OPEC rumors
Oil prices provide important impetus, after the Dow Jones Thursday night quoted an interview with UAE Energy Minister on Sky News Arabia.
Suhail bin Mohammed al-Mazrouei believes OPEC members will be ready for cooperation on a production cut, and noted that low oil prices have already forced producers outside OPEC to reduce output.
– We have heard this talk enough times in the past month, so take it with a grain of salt. When this talk occurs, we have anyway reached an extreme pain threshold, wrote chief analyst Peter Boockvar The Lindsey Group according to CNBC in a note.
Brent April oil rising 5.0 percent to $ 31.55 a barrel , after have been around $ 30.80 when the stock exchange closed yesterday. The US light crude going for $ 27.50 a barrel, up 4.9 percent.
Statoil rising 3.1 percent to 113.90 kroner.
DNO rises
Carnegie upgrading its recommendation on DNO from hold to buy. According to TDN Finans select number breakers to scale up our price target from four to nine million. Nordea has however rejected the purchase recommendation.
DNO rising 1.1 percent to 6.17 million.
Jette shutdown
Norwegian to shut down production on the Jette field after just three years, since ExxonMobil will scrape “Jotun B” platform. The stock is down 0.3 percent to 50.45 crowns.
REC revenge
REC Silicon is leading the way among the most traded, and exceeds 7, 0 percent to 94 cents after the quarterly report confirmed a nasty blow to Q4.
the market likes enough signals from the company that it – out of current conditions – does not need to raise additional financing to meet its debt obligations .
Aker Solutions
Aker Solutions is up 2.9 percent to 24.40 kroner after having submitted their figures from Q4.
analysts are according to TDN Finans somewhat divided in the interpretation of Aker Solutions’ quarterly report.
the company reported an EBITDA of NOK 182 million in Q4, while adjusted EBITDA was 695 million. The expectation was 540 million.
SEB states that the report overall was good, and that Aker Solutions seems to be well prepared for a tough market. Order intake and low contract coverage for 2017 is the main concern.
Kjell Inge Røkke controlled company delivered better-than-expected top-line, but earnings disappointed.
Havila
Havila Shipping explains in a press statement Friday for a revised restructuring proposal.
the company writes that the revised proposal is based on dialogue with stakeholders.
– Although not is pre-accepted with sufficient qualified majority of all the bondholders in bond issuance, it granted consent to the proposal from the biggest bondholders and bond issues and bank loans donors who have accepted a revised “Master Agreement” and the company’s principal shareholder Havila Holding aS as a guarantor of new equity, the statement said.
the share rises 18.5 percent to 1.60 million.
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