The main index rises 0.2 percent from the start. Hexagon Purus is up 7 percent on record numbers.

The case is being expanded.

The main index on Oslo Børs stands at 1,371.90 after 15 minutes of trading, up 0.5 per cent.

Hexagon Purus rises over 10 percent after posting record revenues for the first quarter.

Orkla is up over 4 percent on its figures.

“The optimism from the previous quarter is repeated after continued easing of volume pressure and falling input costs. Overall positive from Orkla, and we expect that estimates for adjusted operating profit for 2024 will be increased by around 1-2 per cent,” writes Pareto Securities according to TDN Direkt in an update.

Among other figure presenters, Bonheur is punished with a price drop of more than 7 per cent, while Itera is down close to 3 per cent.

Circa Group tops the list of winners, rising 25 percent following the announcement that the company has entered into a collaboration agreement with Ixom Operations to develop the market for Cyrene in Australia and New Zealand.

Otovo continues its decline

On the losers list, Otovo continues to excel. Yesterday’s quarterly report showed a loss of another 100 million, triggering a price drop of over 13 per cent. So far on Friday, the share is down over 4 per cent to NOK 1.21.

Carnegie has cut the price target from NOK 2.50 to NOK 1.50 and reiterated a hold recommendation. SEB does the same after lowering its price target from NOK 2.48 to NOK 1.19.

“At the current pace, we estimate that the company will run out of cash in the second quarter of 2025. A subscription sale will extend the liquidity trajectory by 2-3 quarters, but we believe more capital is necessary,” writes the brokerage house, according to TDN Direkt.

The risk premium is disappearing

Oil prices are slightly higher on Friday morning.

The July contract for Brent oil stands at USD 83.86 per barrel, up 0.2 percent (18 cents) since midnight and up from $83.63 a barrel. barrels when Oslo Børs closed on Thursday. WTI oil rises 0.3 percent to 79.15 dollars per barrel.

Hamas is still considering a proposal for a temporary truce with Israel, but according to Bloomberg is said to be positive and plans to send a delegation to Egypt to continue the negotiations.

– The geopolitical prize is quickly priced out as Israel appears to be more willing to accept a hostage deal. It is difficult to see a major lift above USD 90-95 for Brent oil, and the break below USD 85 suggests that a major peak is now in place, says commodity strategist Robert Rennie in Westpac Banking.

Equinor falls 0.7 per cent, Aker BP 0.2 per cent and Vår Energi 0.6 per cent. DNB Markets has lowered the price target on Aker BP from NOK 325 to NOK 290, but reiterated the buy recommendation.