The case is updated throughout the stock market day.
Oslo Børs closed on Wednesday in New all-time high. After a small rest day on Thursday, the Main Index opens straight up 1.5 percent to 1,419.57 on Friday. The exchange was barely above 1,400 intraday on Wednesday, but ended below.
Norwegian inflation fell further in April, but not quickly enough to increase the chance of an interest rate cut. Statistics Norway’s figures for the consumer price index show that total inflation, CPI, fell from 3.9 to 3.6 per cent, while core inflation fell from 4.5 to 4.4 per cent.
The oil price
Oil prices rose on Friday morning after signs of an improvement in the economy in China. At the same time, negotiations in the conflict between Israel and Hamas have stalled.
China’s exports and imports were again rising in April after falling the previous month. Imports for April increased by 8.4 per cent, beating the expectation of an increase of 4.8 per cent.
“Signals of stronger demand from China should help the commodity market hold,” ANZ Research wrote in a commentary, according to Reuters.
The July contract for North Sea oil burnt is up 0.6 percent to 84.41 dollars per barrel. barrel. By comparison, it was 82.71 dollars a barrel at the close of trading on Wednesday.
The US WTI oil is up 0.7 percent to 79.85 dollars per barrel. barrel.
Equinor rises 2 per cent to NOK 310.45, while Aker BP is up 1.6 percent to NOK 273.00. The third largest operator on the Norwegian continental shelf, Our Energyis up 2.3 percent to NOK 36.05.
Movements
Thomas Dowling Næss in Sparebank 1 Markets adjusts the price target in Hexagon Composites from NOK 18 to NOK 31 per stock. The recommendation goes from hold to buy. The share rises 4.2 per cent to NOK 22.25.
The restoration of Moses Lake has cost dearly Rec Silicon . Now the expectation of the first delivery is postponed once again. The share falls 5.5 per cent to NOK 9.77.
John Fredriksen is a steel bull in the tank: – The start of a multi-year upswing cycle, he says to Finansavisen.
Fredriksen’s seaweed giant rises on Oslo Børs Front line 3.2 per cent to NOK 284.00. Oceanis Eco Tankers is up 2.9 percent to NOK 360.50.
