PGS rally on oil-stock exchange


The main index of the Oslo Stock Exchange closed at 871.75 on Friday, after a rise of 0.14%.

Shares and share certificates were traded for NOK 7,065 million.

Wall Street opened nervously after the all-time high yesterday, and PMI's weak numbers did not help the weather.

The main European markets have evolved mixed with PMI incentives for the euro area.

The British FTSE 100 fell 0.7%, the German DAX 0.1%, while the French CAC 40 rose 0.2%.

The oil above

Oil prices are also rising on Friday after recovery on Thursday.

Brent crude rose 1.2 percent to $ 65.21 a barrel, up from $ 63.70 at the close of Oslo yesterday.

WTI oil rose 0.7 percent to $ 57.45 a barrel.

According to The New York Times, President Donald Trump ordered Thursday afternoon attacked several Iranian targets, but then withdrew the order. The order was given in the wake of Iranian forces knocking down a US drone night on Thursday.

– The rise in oil prices seems moderate, given the rise in recent weeks. The story of global growth is a much bigger concern for oil traders at the moment, writes senior analyst Craig Erlam in Oanda in an update that Hegnar does not have access to.

"For this resumption to continue, I think we should see a significant escalation between the US and Iran, or an agreement between Trump and China," he continues.

On the Oslo Stock Exchange, Equinor rose 0.6 percent to NOK 172.60, Aker BP one percent to NOK 247, while DNO ended 0.9 percent to NOK 16.05.

Oil Service on Seal

The effects of the most traded were modest – both ways.

The oil service was positive and the PGS rose 7.0 percent to 13.39 NOK after yesterday's drop a number of insiders increased their exposure in the company.

Otherwise, in the oil service, Seadrill continued to rise sharply yesterday, with a new increase of 8.3%, to 34.60 NOK. According to Finansavisen, Pareto wrote in an analysis yesterday that Seadrill probably avoids a major refinancing.

Subsea 7 continued to show strength, and rose 1.5 percent to NOK 102.50. Aker Solutions, which in today's stock market interview at Finansavisen receives a purchase recommendation from DNB Markets, rose 1.7 percent to 34.45 NOK.

Otherwise, in the industry, we assume that TGS put 1.3% in NOK 241 after yesterday's announcement of PGS cooperation.

Tank rates are now at the highest in three months, and Frontline ended the day up 3.7% to 72.65 NOK. Kepler Cheuvreux raised the price target from 103 to 113 NOK and repeats his purchase recommendation.

Among the other heavyweights, both Norsk Hydro, Mowi, DNB, Elkem and Orkla rose, but all less than the percentage.

LPG transport companies in red

On the down side we noticed mainly Avance Gas and LPG BW which was in a crash after that DNB Markets has downgraded the LPG industry.

The two fell respectively. 9.0 percent for NOK 24.25 and 6.0 percent for NOK 43.90.

Only two stocks fell more than Advance Gas. Induct Merkur, quoted in the market, fell 20.7% to NOK 5.95, while ABG Sundal Collier fell 9.3% to NOK 3.52.

In Dolphin Drilling, profit coverage continued after a doubling in a few days. The current decline was 7.4% for NOK 2.00.

Among the most traded, Yara, Tomra and Gjensidige had a negative impact of 0.8-0.9%.

In the loss list, we also with the Gaming Innovation Group from minus 8.2% to NOK 11.72 and Element from 7.8% to NOK 2.64.

Registration Rally Rally

The winning list is led by the Crayon Group, which continues to set new records. The share rose 11.2 percent to NOK 27.70, and a new intraday high all time sounds at NOK 28.

Only one action rose more than the said Seadrill.

More specifically, it is Sino Agro Food, listed on the Merkur Market, which fell 9.7% to NOK 1.70.

We also included Höegh LNG, which spent 7.1% to NOK 35.25, while Hiddn Solutions advanced 6.5% to NOK 33.


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