Oslo Stock Exchange Opens



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In the wake of yesterday's US interest rate meeting, with the subsequent rise in both the US and Asia, the Oslo Stock Exchange opens on Thursday morning.

After 20 minutes of trading, the main index was 872.80, an increase of 0.85%, and so far the shares were traded for 378 million Norwegian kronor.

oil prices

Brent crude is up 2.70 percent to $ 63.49 a barrel on Thursday morning, while WTI crude rose 2.93 percent to $ 55.55 a barrel.

In comparison, a barrel of North Sea oil was trading at $ 61.67 a barrel at the close of the Oslo Stock Exchange on Wednesday.

One reason is, according to TDN Direkt, an unexpected inventory of US crude stocks.

US crude inventories, according to the EIA, fell 3.1 million barrels to 482.4 million barrels last week, while a stock of 1.1 million barrels was expected in advance.

Analysts at ANZ believe that, according to TDN's DirekN, trade is also being boosted by stronger demand from gasoline, both gasoline and distillates fell more than analysts had expected ahead of time.

Otherwise the focus of the news agency is OPEC, which agreed to meet on July 1, followed by a meeting for non-OPEC partners on July 2. It will be discussed during the defined days if the current production contract of 1.2 million barrels per day will be maintained.

Oil analyst Stephen Innes says, according to TDN Direkt, that oil price volatility will continue but that the next Opec meeting should provide "price support expected for a period."

Equinor rose 2.04 percent to NOK 172.35 while Aker BP rose 3.97 percent to NOK 241.20. DNO increases 2.97 percent to NOK 15.80.

Going even higher

Dolphin Drilling continues to rise sharply this week. On Monday, shares rose 36.28 percent, on Tuesday, 26.11 percent, and on Wednesday, 31.31 percent.

On Thursday, the share is up 14.23 percent more, to 2.97 NOK. Last month, the share rose about 290%.

Dolphin Drilling daughter, Dolphin Drilling AS, Monday signed a contract with Norske Shell to drill at the Knarr field on the Norwegian platform. The contract is worth $ 15 million and includes well drilling plus two additional well options.

new poor

On Thursday morning there were relatively few reports from companies on the Oslo Stock Exchange. One of those who checked in is the news that Kongsberg Defense & Aerospace AS is has awarded a NOK 1.6 billion contract by Raytheon Australia.

The Kongsberg Gruppen rises 1.73 percent to NOK 117.90.

Otherwise, the Akva Group can inform that through the subsidiary Akva Group Denmark, they have won a tender for the supply of smolt plants to Russian Aquaculture in Murmansk.

The stock rises 0.51 percent to NOK 79.00.

TGS and PGS report on Canada's offshore cooperation project. TGS rose 0.66 percent on Thursday to NOK 229.30, while the PGS fell 2.50 percent to NOK 12.70.

On Thursday, the chairman of the board and the chief administrator of PGS accumulate shares in the company.

Retreating

XXL tops a "casualties list" short Thursday morning, with a fall of 5.36% to NOK 26.50.

The stock rose as much as 20.72 percent on Wednesday, after it became known that Dolphin Management, which is controlled by the chairman of XXL, Øivind Tidemandsen, sold 2.4 million XXL shares at a price of NOK 25 each.

At the same time, Altor Fund IV acquired 7.1 million shares of XXL at a price of NOK 25, which represents 5.10% of the company. With the approval of an extraordinary general meeting, Altor entered into a contract for the purchase of 3,096,274 shares of XXL at the price of NOK 25.

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