Oil prices fell back after four weeks of gains as traders weighed prospects that the US Federal Reserve will raise interest rates in July in its fight against inflationary pressures, writes Bloomberg News on Monday.
Dow Jones on a winning streak
Wall Street ended mixed on Friday, but the Dow Jones train is still rolling. The industrial index ended up for the 10th day in a row.
So far, the results for the second quarter have been strong. According to data from FactSet, 78 percent of the companies in the S&P 500 have exceeded expectations and many investors believe this strengthens the argument for a soft landing.
The S&P 500 rose 0.04 percent to 4,536.91, while the technology index Nasdaq fell 0.22 percent to 14,032.81. The Dow Jones rose 0.01 percent to 35,229.37.
Read the entire USA commentary here.
Rise on the Oslo Stock Exchange
On Friday, the main index on the Oslo Stock Exchange rose 0.6 per cent before ending at 1,230.79 points. Equinor ended up 1.1 per cent to NOK 309.80, while Aker BP rose 1.1 per cent to NOK 275.
Norsk Hydro reported an adjusted operating result before depreciation and amortization (EBITDA) of NOK 7.1 billion for the second quarter, compared to NOK 11.6 billion from the same period last year. The company was also able to show a profit after tax of NOK 5.1 billion, compared to NOK 11.1 billion last year. The share was at most down 3.4 percent on Friday, but ended the trading day down 2.2 percent.
On Thursday, PGS rose over 27 percent after securing commitments for a loan facility of 75 million dollars to partially refinance bond debt that expires in March 2024. The share fell 2.2 percent to NOK 6.91 on Friday.
On Friday, it became known that Education Minister Ola Borten Moe has broken the ethics rules by buying the arms stock Kongsberggruppen. The share ended up 0.9 percent at NOK 454.80.
The Finnish technology company Tietoevry fell 7.5 percent to NOK 252.60 after the presentation of quarterly figures and became one of Friday’s losers.
Read the entire final comment here.
Financial calendar
Macro:
Japan: PMI July, at 02.30 France: PMI July, at 09.15 Germany: PMI July, at 09.30ØMU: PMI July, at 10.00 UK: PMI July, at 10.30 USA: Chicago Fed index June, at 14.30 USA: PMI July, at 15.45
Other:
Frøy: Extraordinary general meeting, at 09.00 The Kingfish Company: Extraordinary general meeting, at 2 p.m
Foreign:
2023-07-24 05:13:12
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