Oslo Stock Exchange opens | Finansavisen

(The case is updated)

Oslo Børs opens on Wednesday morning.

After 19 minutes of trading, the main index stands at 1,345.66, up 0.44 per cent, and NOK 635 million worth of shares have been traded so far.

Quarter rush

The quarterly season continues, and a number of heavyweights have presented figures on Wednesday.

Among them are Nordic Semiconductorwhich halved last year’s turnover, but was still within the interval they themselves guided for when presenting the figures for the fourth quarter.

And the company expects even better times ahead. They now predict an average turnover of NOK 125 million in the second quarter, which sends the share up a whopping 30.27 per cent to NOK 115.60 when trading in the share first started, 27 minutes after opening.

Also Kjell Inge Røkkes Aker BP have presented figures. The oil company brought in $2.2 billion from operations in the first quarter, beating analysts’ expectations. The share is up 1.26 percent to NOK 281.40.

Store fire had a group profit of NOK 1,082 million in the first quarter, compared to NOK 826 million in the same period last year. The share strengthened by 4.55 per cent to NOK 102.30.

Upturn

A wealthy Italian has on Wednesday put 7.6 billion Norwegian kroner on the table for the car shipping company Gram Car Carriersand sends the share up a whopping 24.71 percent to NOK 265.00.

The oil price

The June contract for Brent oil is on Wednesday morning up 0.03 percent to 88.45 dollars a barrel, while WTI oil rises 0.11 percent to 83.45 dollars a barrel.

In comparison, a barrel of North Sea oil traded for 87.05 dollars a barrel at the end of the stock exchange in Oslo on Tuesday.

– Traders finally have the opportunity to focus on fundamentals, with the geopolitical risk premium largely gone. Lower inventory levels signal that demand is holding up, says Charu Chanana, analyst at Saxo Capital Markets, according to TDN Direkt.