(The issue has been updated)
Development is relatively flat on the Oslo Stock Exchange on Tuesday morning.
After 23 minutes of trading, the main index is at 1390.34, up 0.02 percent, and NOK 564 million worth of shares have been traded so far.
Product pressure
Several companies have presented their first quarter figures on Tuesday morning.
Among the biggest we can find Rocks which turned minus into plus, and exceeded analysts’ expectations. This puts the share up 10.92 percent to NOK 96.00, which is currently the most traded level of the day.
Also Salmon Breeding strengthened, after presenting an operating profit of NOK 6 million, up from minus NOK 25 million in the same period last year. The share now rose to 9.46 percent to NOK 8.10.
Axactor however, disappointing, and the share fell 7.31 percent to NOK 4.63. The company was able to report an EBITDA of 26 million euros in the first quarter, while analysts had previously expected a result of 33 million euros. Also the CEO admitting it was a weak quarter for the debt collection company.
The price of oil
The July contract for Brent oil on Tuesday morning is up 0.11 percent to 83.42 dollars per barrel, while WTI oil is up 0.08 percent to 78.54 dollars per barrel.
– Geopolitics is back in the driver’s seat in the crude oil market after last week’s decline. The outlook for demand continues to be supported by expectations of interest rate cuts from the Federal Reserve, says analyst Charu Chanana at Saxo Capital Markets, according to TDN Direkt.
Equinor down 0.21 percent to NOK 304.95, while Anchor BP fell 0.33 percent to NOK 270.88 percent. Our Energy changed so far +0.30% compared to yesterday.
2024-05-07 07:03:10
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