The case is updated throughout the day – last updated at 09:20
Oslo Børs opens lower, and at the time of writing is back 0.2 percent to 1,304.45 points.
The Norwegian krone continues to strengthen since the interest rate hike before Christmas. On Thursday morning, one euro costs NOK 11.21, while one dollar costs NOK 10.09.
The German ten-year yield is at its lowest level in a year, which is due to expectations of interest rate cuts next year. The interest rate market is pricing in a cut of 168 basis points from the ECB in 2024, according to Bloomberg News.
– It is clear that disinflation and expectations of interest rate cuts dominate the market. This sentiment is quite bullish for bonds, says fixed income strategist Emmanouil Karimalis at UBS, according to Reuters.
Today’s movements
The Oslo shipping company Klaveness Combination Carriers came on Thursday morning with a market update for the fleet’s preliminary earnings in the fourth quarter. The company reports an average shipping income above guidance. The share rises 3.3 per cent to NOK 86.80.
Kristian Siem uploads in Electromagnetic Geoservices and bought shares for NOK 12 million, according to a stock exchange announcement on Wednesday evening. Siem now owns 33 percent of the shares in the company. The EMGS share rose 15.0 percent from the start.
The Borgestad share also rises strongly from the start, after Glen Ole Rødland and Frode Teigen buy shares for millions of kroner. The share is up 15.0 percent to NOK 0.34.
Kongsberg Automotive has been awarded a new contract worth 19 million euros, according to a stock exchange announcement on Wednesday afternoon. The share fell 1.3 percent on Thursday morning.
Techano Oceanlift, a subsidiary of Nekkar, has been awarded a contract by Sefine Shipyard for the supply of an offshore crane for a new build IMR survey vessel. The contract value is approximately 6.5 million euros, close to NOK 73 million. The share rises 2.5 percent.
Alternus Energy Group jumped on the stock exchange yesterday with a rise of more than 40 percent following the news of the merger with Clean Earth Acquisitions. Alternus Energy Group becomes the majority shareholder with around 80 percent ownership in Alternus Clean Energy, which started trading on Nasdaq in the US on Tuesday 26 December under the ticker ALCE. The share fell 6.4 percent from the start on Thursday.
The oil price
Oil prices stabilized somewhat in the morning hours on Thursday after a fall on Wednesday. Concerns about further shipping disruptions along the Red Sea route have subsided somewhat, but tensions in the Middle East continue to rise.
A barrel of crude oil currently costs $79.66 a barrel, flat since midnight. By comparison, a barrel of North Sea oil cost 80.78 dollars a barrel when Oslo Børs closed on Wednesday. The US WTI oil is down 0.1 percent to 74.01 dollars a barrel.
2023-12-28 08:03:38
#Oslo #Børs #opens #slightly
