Oslo Børs Stock Market Update: Oil Prices Rise as China’s Economy Improves

The issue is updated throughout the stock market day.

Oslo Børs closed on Wednesday in New high all the time. After a small rest day on Thursday, the Major Index opens just up 1.5 percent to 1,420.18 on Friday. The exchange barely topped 1,400 intraday on Wednesday, but ended below.

Norwegian inflation fell further in April, but not fast enough to increase the chance of an interest rate hike. Statistics Norway figures for the consumer price index show that headline inflation, CPI, fell from 3.9 to 3.6 percent, while core inflation fell from 4.5 to 4.4 percent.

The price of oil

Oil prices rose on Friday morning after signs of improvement in the economy in China. Meanwhile, negotiations in the conflict between Israel and Hamas have stalled.

China’s exports and imports were rising again in April after falling the previous month. Imports for April increased 8.4 percent, beating expectations for a 4.8 percent increase.

“Signs of stronger demand from China should help the commodity market hold,” ANZ Research wrote in a statement, according to Reuters.

The July contract for North Sea crude oil is up 0.6 percent to 84.41 dollars per barrel. barrel In contrast, it was 82.71 dollars per barrel at the end of trading on Wednesday.

US WTI oil is up 0.7 percent to 79.85 dollars a barrel. barrel

Equinor rising 2.7 percent to NOK 313.15, while Anchor BP changed so far +3.1% against NOK. The third largest operator on the Norwegian continental shelf, Our Energyup 3.4 percent to NOK 36.46.

Movements

Thomas Dowling Næss in Sparebank Markets 1 changes the price target in Hexagon Composites from NOK 18 to NOK 31 per stock. The recommendation goes from holding to buying. The share rose 3.5 percent to NOK 22.10.

The restoration of Moses lake is a big expense Rec Silicon . Now the first delivery is expected to be postponed again. The share fell 4.6 percent to NOK 9.86.

John Fredriksen is a steel bull on a tank: – The start of a multi-year recovery cycle, he says to Finansavisen.

Seaweed giant Fredriksen is rising on Oslo Børs Face-to-face 3.2 percent to NOK 284.00. Okeanis eco tankers free changed so far +2.9% against NOK.

DNB Markets raises target prices i DOF Group from NOK 85 to NOK 110 per stock. The share rose 2.3 percent to NOK 92.65.

If not, we’ll take that Norwegian Hydro and Helen rising 3.3 percent respectively to NOK 68.14 and 4.6 percent to NOK 20.40.

Petronor announced yesterday that 583,695 barrels of oil were lifted and sold from Djeno Terminal to ADNOC, the national oil company in Abu Dhabi, in May. This generated a cash flow of $48.28 million. The total share rose 10.2 percent to NOK 11.70.