The case is updated.
Oslo Børs barely ended in the red on Tuesday. At the close of trading, the main index stood at 1,339.80, a decrease of a marginal 0.03 per cent.
The oil price
The June contract for Brent oil is up 0.1 percent at the close of trading at $87.05 a barrel, while WTI oil is up 0.2 percent at $82.09 a barrel.
In comparison, a barrel of North Sea oil traded for 86.57 dollars a barrel at the end of the stock exchange in Oslo on Monday.
– The oil market has reduced the risk premium linked to Israel-Iran, but may now go into standby mode. It is difficult to envisage a correction from current levels unless there is a breakthrough on the Gaza front, says Vandana Hari, founder of Vanda Insights in Singapore, according to TDN Direkt.
Equinor fell 0.9 per cent to NOK 294.10, while Aker BP ended down 0.9 percent to NOK 277.90. DNO fell back 5.5 per cent to NOK 10.38, after a marked rise on Monday.
Quarterly figures
The first quarter season is now in earnest, and a couple of heavyweights have presented their numbers on Tuesday.
DNB is among the first out, but the net interest rate disappointed the analysts. Storbanken presented a net result of NOK 10.2 billion. The share fell 1.1 per cent to NOK 208.30 on the highest turnover.
The analysts now fear that the DNB party is over. – It is difficult to justify the high valuation, says head of analysis Hans Rettedal Christiansen at Danske Bank.
Our Energy rose 0.1 percent to NOK 36.08. The company reported an operating profit of $1.05 billion, marginally below analysts’ expectations of $1.06 billion, and projects are proceeding as planned.
– We are satisfied with delivering record-high production in the quarter, which was characterized by the acquisition of Neptune Energy, says CEO Nick Walker in a comment.
Enter fell 3.9 percent to NOK 102.80 after its first-quarter figures. The property company ended with lower income than the same period last year, expenses increased, and the value of the properties was adjusted down by almost 2 billion. This resulted in a blood-red bottom line, with a result before tax of minus NOK 1.3 billion.
Movements
Blue Ocean buys into Golden Energy Offshore at a significant premium of NOK 2.22 per stock.
– They price the company more correctly, says Golden Energy CEO Per Ivar Fagervoll.
The share reacted positively to the purchase and rose a full 8 per cent to NOK 1.83.
The day’s biggest winners were Norsk Titanium, which rose a whopping 93.6 per cent to NOK 2.13.
It happens after the raw materials company announced a new contract with Airbus and at the same time guides a tenfold increase. The goal is now a turnover of 150 million dollars by 2026.
BW LPG announces on Tuesday that they have been approved for their application for listing on the stock exchange in New York. The share advanced 2.5 percent to NOK 151.70.
Otherwise, we can take into account that Norwegian fell 2.7 per cent to NOK 16.08.
