Home » Technology » Stock Market News: Norwegian and SAS Rises, Oil Prices Supported by Tension in Red Sea

Stock Market News: Norwegian and SAS Rises, Oil Prices Supported by Tension in Red Sea

Elsewhere in shipping, the product tanker Hafnia rose 3.5 per cent and the container shipping company MPC Container Ships 2.5 per cent.

Norwegian and SAS up

Norwegian eases by 3.5 per cent and stands at NOK 11.17 after the Norwegian Competition Authority made a U-turn and approved the Widerøe purchase.

HAPPY: Norwegian CEO Geir Karlsen landed the Widerøe purchase before Christmas. Photo: Iván Kverme

Otherwise in aviation, SAS jumps up 11-12 per cent after increasing revenues in November compared to the same period last year. The increase comes despite the share going to zero.

Kongsberg Automotive continues the sprinkling of contracts, and so does the increase with a new 2.5 per cent.

Cadeler rises 1.4 per cent to NOK 46.64 after both DNB Markets and Arctic Securities have resumed coverage, both with a buy recommendation. The price targets are NOK 70 and NOK 61, respectively.

Furthermore, according to TDN Direkt, ABG Sundal Collier considers it a positive data point for both Cadeler and Bonheur that Vattenfall has signed an agreement with RWE for the sale of the Norfolk Offshore Wind Zone for 963 million British pounds.

Support from the oil price

Oil prices rose on Friday, still supported by the tension in the Red Sea where the Houthi militia in Yemen has carried out a series of rocket attacks against several ships in support of the Palestinians in Gaza.

The forward contract for Brent oil stands at USD 80.01 per barrel, up 0.8 percent (63 cents) since midnight and up from $78.93 a barrel. barrels when Oslo Børs closed on Thursday. WTI oil is up 0.8 percent to 74.51 dollars per barrel.

Brent oil is thus heading for an increase for the week of around 4.5 per cent.

On the negative side for oil prices, Angola’s decision to withdraw from OPEC calls into question the unity of the cartel.

Equinor rises 0.4 per cent, Aker BP 0.6 per cent and Vår Energi 0.3 per cent.

Doubling candidate rises

Zaptec rises almost 5 per cent to NOK 23.14 so far on Friday, and thus follows up on Thursday’s rise of 12.6 per cent triggered by an ABG Sundal Collier analysis that recommends buying with a price target of NOK 50. Analyst Petter Nystrøm thus sees an upside of well over 100 per cent.

The electric car charger company has also secured NOK 230 million in additional liquidity reserves.

We also note that StrongPoint is up around 3 percent after concluding an agreement with Felleskjøpet Rogaland Agder regarding electronic labels in all of its 21 BondeKompaniet stores.

On the losers list we note Norsk Titanium, which continues the correction after the strong rise triggered by Tuesday’s announcement that the company is qualified for an initial production for Airbus with its Rapid Plasma Deposition technology. Today’s drop is 10 percent so far.

2023-12-22 08:03:03
#Norwegian #rally #salmon #burst

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