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At 12.15 on Friday morning, the main index on Oslo Børs has fallen by 0.7 per cent since the start of trading.
The sharpest drop is found at Havila Kystruten as, a whopping 50.1 per cent. So far this year, the rate has fallen by 90.8 per cent, and is therefore now continuing its decline. The Norwegian shipping company completed an issue earlier this month and updated its financing plan.
On Friday, the new shares, which were sold at one krone each, came on the market and the former shareholders were heavily diluted. They are left with just under ten percent of the refinanced company.
Oslo Børs with usable recovery – coastal shipping company punished on the stock exchange after directed issue
In addition, among other things, both seismic companies PGS and TGS have fallen since the stock exchange opened. The PGS share has so far lost 1.8 per cent and the TGS share 1.2 per cent.
The stock market fall for Bergenbio also continues today after yesterday it lost 16.8 per cent during the trading day. At 12.15 it has fallen 5.7 per cent after the price cut from DNB Markets yesterday.
The SAS share continues to fall after yesterday and has fallen by 1.4 per cent since the start of trading. The airline delivered figures for June earlier this week which showed increased turnover in the high season, and the share thus saw an increase. The SAS share has nevertheless fallen by 80 per cent in the past two years.
Over the past 24 hours, the Norwegian krone has weakened against the dollar. On Thursday, the dollar cost just under NOK 10, while on Friday morning it cost NOK 10.18. The krone, on the other hand, has strengthened against the Swedish krone and is roughly unchanged against the euro.
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A barrel of North Sea oil is traded on Friday morning for about the same as when the exchange closed on Thursday afternoon. At 12.15 the oil is traded for 83.36 dollars per barrel.
Shopping figures before the weekend
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Before the stock market opened on Friday, Statistics Norway released fresh figures from the retail trade for June, which showed a slight increase. The turnover volume increased by 0.3 per cent from May to June, according to seasonally adjusted figures.
Chief economist Kjersti Haugland says today’s figures are surprising as she expected a slight decline after the rise in May.
The previous report showed that Norwegians bought more goods from April to May, which gave a jump of 1.2 per cent, while also revising up the figures from the previous months. The increase in May comes in a period where the trend in retail trade has been downward since the end of the corona pandemic.
Later on Friday morning, Nav also came out with unemployment figures for July which showed that unemployment has increased. At the same time, unemployment, which is now 1.8 per cent, is still very low.
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These figures will probably not have any impact on Norges Bank’s next interest rate plan, says senior economist at Handelsbanken Capital Markets, Sara Midtgaard.
The figures for May last month showed that unemployment in Norway had fallen slightly. At the end of May, unemployment was 1.7 per cent, down from 1.8 per cent in April and March.
Fresh figures from Nav: Unemployment in Norway remained unchanged in June
Dramatic interest rate meeting in Japan
The Japanese central bank has an interest rate meeting on Friday. The country is experiencing the highest level of inflation in 40 years and an unstable stock market. In light of this, the Japanese central bank is therefore considering making changes to monetary policy.
Interest rate fears shake the world’s third largest economy: – It could be very serious
Earlier in the week, there were interest rate decisions from the American central bank (Fed) and the European central bank (ECB). The decisions offered no surprises, and both central banks raised the key interest rate by 0.25 percentage points as expected.
For the Fed, this means that the interest rate level is now in the range of 5.25–5.5 per cent, which is the highest in over 20 years. Many believe, however, that this is the last round of rate hikes from the Fed. The European deposit rate is now 3.75 per cent, which is the highest it has been since 2001. (Terms) Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.
2023-07-28 09:11:15
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