The main index on the Oslo Stock Exchange ended at 865.89 on Thursday, after an increase of a marginal 0.03 percent.
Shares and equity certificates were traded for NOK 3,686 million.
The Federal Reserve indicated yesterday that the key policy rate will not be raised until inflation has risen above 2.0 per cent – and remained so for some time.
Wall Street developed mixed yesterday, but has opened right down today. On the macro front, both jobless claims and the important industry index Philly Fed came in just as expected.
Leading European stock markets are pulling down significantly.
The British FTSE 100 fell 0.5 percent after the Bank of England kept interest rates unchanged, nor did it send signals of new monetary policy easing. German DAX and French CAC 40 fall respectively. 0.9 and one percent.
Oil up before OPEC
Brent oil has risen from levels this morning, and is now up 1.2 percent to $ 42.80 a barrel so far in today’s trading. In comparison, a barrel of North Sea oil was traded for 41.66 dollars a barrel at closing time in Oslo yesterday.
WTI oil rises one percent to $ 40.58 a barrel.
OPEC + will meet on Thursday for a review of the market, but according to Reuters no further cuts are expected. In July, OPEC + decided to cut oil production by 7.7 million barrels per day, or around 8 percent of global demand, from August to December.
On the Oslo Stock Exchange, Equinor rose one percent to NOK 144.75, while Aker BP also climbed one percent to 162 kroner.
Quantafuel advanced 1.5 percent to NOK 66.60 at today’s third highest volume. Pareto Securities raised its price target yesterday, and the share thus got a boost after a turbulent last week.
In was second most traded, and climbed 2.0 percent to 18.93 kroner. Citi has raised coverage of the share with a neutral recommendation and a price target of NOK 21.
Borregaard rose 4.8 per cent to NOK 135.80 on its capital market day, where the company repeated its strategy and financial goals.
Among other heavyweights, Telenor climbed 2.4 percent to 151.10 kroner.
On the negative side, we find Orkla and small savings favorite Vow , after a fall of resp. 2.7 per cent to NOK 90.62 and 4.8 per cent to NOK 37.95.
Speaks and Tomra pulled down resp. 2.4 percent to 172.70 kroner and 2.3 percent to 371 kroner.
Furthermore, the tailwind continued for Kjell Inge Røkke’s new ESG companies Aker Carbon Capture and Aker Offshore Wind . The companies participated in Pareto’s energy conference and the former hinted today that a share issue may be around the corner.
Aker Carbon Capture rose 14.9 percent to NOK 6.09, Aker Offshore Wind 14.8 percent to NOK 4.34.
Mutual put up 2.7 per cent to NOK 197 after the board has approved a dividend of NOK 12.25 per share, divided between NOK 7.25 and NOK 5.00 respectively. ordinary and extraordinary dividends.
The decision takes place after last week’s clarification from the Ministry of Finance, which, in contrast to Finanstilsynet, considers that the insurance companies themselves can assess whether they are able to pay dividends.
Seadrill in red
The list of losers is topped by Siem Offshore , which pulled down 8.5 percent to 91 cents.
Further down the list, we notice Seadrill , which fell 2.7 per cent to NOK 2.43.
The latter is now facing a new restructuring. Earlier on Thursday, SFL Corporation announced that Seadrill has paid charter rent for September related to the three rigs that are on long-term charters to subsidiaries of Seadrill.
At the other end we find Oceanteam , which raised 20 percent to 3.00 kroner. Closest followed Nekkar of plus 17.1 percent to 5.20 kroner.
We also notice that Scana put on 14.7 percent to 1.80 kroner.