Oslo Børs opened the week with an increase on Monday. On Tuesday, the main index falls 1.0 percent.
The oil price (burnt spot) has fallen 5.5 per cent in the last month. On Tuesday, it falls 1.1 per cent and a barrel trades for 82.1 dollars.
In the morning hours, the Bergen seafood giant Lerøy presented results for the fourth quarter. The company writes that it is affected by cost pressure, yet a dividend of NOK 1.5 billion is proposed.
The company had an operating result before value adjustments of NOK 800 million in the fourth quarter, somewhat weaker than the estimates that expected NOK 913 million in the period
The share falls 8.2 percent.
Before the stock exchange opened, Austevoll Seafood also presented its results for the fourth quarter. The company can show an operating result before value adjustments of NOK 630 million in the fourth quarter of 2022, compared to NOK 903 million in the same period the previous year.
On Wednesday, Salmar presents his results. On Thursday, Adevinta and Rec Silicon follow, and the results week ends with fresh figures from SAS on Friday.
The most traded companies just after 10.00 are Aker BP and Equinor, which respectively fall 1.3 and 1.7 per cent.
Otovo rises after yesterday’s decline
The solar panel company Otovo’s share took a real hit and the share plunged by 17.79 per cent.
On Friday, it became known that the Italian government is removing a subsidy scheme that made it beneficial for Italians to install, among other things, solar panels in their homes. It will have consequences for Otovo in the first quarter, the company announced on Friday evening.
In the stock exchange announcement, it was stated that the change “will negatively affect Otovo’s income in the first quarter, and to a lesser extent delay the pace of installation”.
The share rises 2.7 percent.
Wall Street has its first trading day of the week
Wall Street was closed on Monday, but on Tuesday the stage is set for a new trading day across the Atlantic.
At the same time, the American investors get more macro figures to brush up on throughout the day. First up is the US PMI figure, well known for being the central bank’s preferred inflation gauge.
The economists at Handelsbanken Capital Markets write in their morning report on Tuesday that an improvement is expected, both within services and industry.
– The US economy has so far shown resilience, given the interest rate hikes from the Fed and high living costs, it continues.
Later in the day, housing market data from the USA is also published. It is expected that house sales will pick up somewhat from the low levels.
– Furthermore, we receive housing market data from the US today: it is expected that housing sales will pick up somewhat from low levels.(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.
