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The main index on the Oslo Stock Exchange falls about 1.4 percent on Wednesday afternoon, after a cautious but pessimistic opening on trading day and June.
The Stock Exchange is particularly burdened by falls for several heavyweights.
Equinor, which is today’s most traded stock so far, is down over three percent, as is Aker BP. Hydro falls over five percent after announcing a new renewable project in Brazil before the stock exchange opened. The oil company Vår Energi is also falling closer to two percent, at the same time as the price of North Sea oil is hovering around 117 dollars a barrel.
One of today’s clear stock market winners is the seismic company PGS, which rises above twelve percent and is today’s fourth most traded share so far.
Expects sales revenue of $ 100 million
In an update on Wednesday morning before the stock exchange opened, the company issued a profit announcement, where it became clear that sales revenues of more than 100 million dollars are expected in the second quarter.
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This corresponds to approximately NOK 941 million.
– We continue to see an improvement in the seismic market this year. Significant sales, including high prices, are a confirmation that PGS ‘multi-client library is very attractive to our customers, said PGS manager Rune Olav Pedersen in the report.
The PGS share is now traded for around NOK 6.5, which values the company at NOK 4 billion.
Otherwise, SAS will continue to fall below nine percent after yesterday’s disappointing quarterly report. The company made a loss of NOK 1.6 billion in the second quarter, and is now working overtime in negotiations with creditors.
Wall Street fell gently
Tuesday was the first trading day of the week for Wall Street, due to the celebration of Memorial Day on Monday. The stock market party from last week was not to be found in Wall Street’s three main indices. All opened with falls, but recovered somewhat during the day.
Finally, the main indices ended with a cautious fall. The broad S&P 500 index ended with a fall of 0.53 percent, the industry-heavy Dow Jones fell 0.67 percent and the technology exchange Nasdaq fell 0.41 percent.
The month of May is thus done and thanks to last week’s stock exchange party, the indices ended relatively flat.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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