The case is updated throughout the day.
Oslo Børs opened up 0.4 percent on Tuesday. At 15:50, the main index stands at 1,205.82 points, down a marginal 0.24 per cent.
There is a quiet rise on the largest stock exchanges in Europe. The German DAX is up 1 percent, the French CAC is up 0.7 percent, while the British FTSE100 rises 0.1 percent.
Technology stock to air
Both DNB Markets and Citigroup raise the price target to arrived, which climbs 8.3 per cent to NOK 80.25 per stock.
DNB Markets is positive about the share ahead of the first-quarter reporting, and estimates results largely in line with consensus as well as a repetition of previous 2023 guidance.
Seacrest Petroleo guides an average production of 8,782 barrels per day this year. Yesterday came the first analysis after the IPO, with Pareto predicting a doubling. The share falls 0.3 percent to NOK 12.20.
A board member in Store fire replenishes shares for over NOK 16 million. The share strengthened by 1 percent to NOK 81.98.
Managers in the Danish technology company Asetek uploaded for well over NOK 350,000 in its own company, which sends the share up 39 per cent to NOK 8.80. In the last year, the drop has nevertheless been over 70 per cent.
Oil price up
Oil prices rose cautiously on Tuesday, after Monday’s oil rally triggered by the surprise production cut by the oil cartel Opec+.
Brent oil is up 0.9 percent to $85.70 a barrel since midnight, while WTI oil is up 1 percent to $81.20 a barrel.
In comparison, a barrel of North Sea oil traded for 85.08 dollars per barrel. barrel at the close of the stock exchange in Oslo on Monday.
– The buying spree triggered by the Opec+ cuts has calmed down, and the market is now turning its attention to future prospects for oil demand, says NS Trading CEO Hiroyuki Kikukawa, according to Reuters.
– In the short term, demand is expected to rise before the summer driving season, but higher oil prices can increase inflationary pressure and prolong interest rate increases in many countries, which can dampen demand, he adds.
Equinor falls 1.2 per cent to NOK 308.20 per share, while Aker BP weakened by 1 percent to NOK 271.20.
Read more about oil prices here.
Revenge for the shipping companies?
Tanker shares plunged on the stock exchange on Monday after the Opec cuts, which result in smaller volumes to transport.
– The VLCC rates may be reduced from around 90,000 to 60,000 dollars per day as a consequence of this change, says Clarksons analyst Frode Mørkedal.
John Fredriksens Frontline plunged 9.6 percent on Monday and is down 1.5 percent on Tuesday, while Okeanis Eco Tankers, which carries Russian crude, tumbled 9.3 percent. Today, the shipping company is down 2.8 percent.
