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Oslo Børs posted a positive result on Tuesday, with the main index rising 0.5% to 856.77. The turnover amounted to 4.1 billion NOK.
oil prices
Oil prices rose during the morning. The barrel of brent is up 1.1% to 61.17 dollars, while US light oil is up 1.0% to 52.13 dollars. The price is therefore about one dollar higher than the opening of the stock market.
In comparison, a barrel of oil from the North Sea was traded Monday at the Oslo Stock Exchange for the $ 60.88 mark.
Prices rose sharply on Monday, while an industry source, according to TDN Direkt, told Reuters that Saudi Arabia had increased its highest level of oil production in November, with production of 11.1 to 11.3 million barrels per day.
Earlier this month, the country's production was 10.8-10.9 million barrels a day.
The increase in production comes before the Opec / non Opop meeting in Vienna on December 6, where all cuts will be discussed.
Equinor climbed 0.5% to 200.20 crowns, while Aker BP rose 1.7% to 236 crowns.
Seadrill on the numbers
The editing company of John Fredriksen, Seadrill recorded a loss of $ 245 million in the third quarter. However, the share eventually reached 2.0% to 128.98 crowns.
"The stock is probably down after being very weak in recent weeks due to the drop in the price of oil.The company is still relatively optimistic about future prospects, says Carnegie Chief Analyst Frederik Lunde in Hegnar .no.
"The company has a little less debt than expected, while announcing a new contract.Do not forget that this is the first time that Seadrill presents quarterly figures of a year and a half, from many investors are therefore waiting to receive this report before proceeding to a deeper work on the investment, "continues Lunde. Analyst Frederik Lunde continues from Carnegie to Hegnar. not.
LNG Flex Rally
Flex LNG, dominated by John Fredriksen, declined less in the third quarter. The company could post a profit of $ 1.18 million. Revenues almost doubled from $ 9.8 million to $ 19.0 million.
Flex's share rose 10.5% to 13.80 kronor.
The portfolio manager Alexander Stensrud from Skagen Vekst believes that the recovery is very justified.
"We think this is just the beginning – at the current price, these ultramodern ships are cheaper than what the shipyards are ready to do and can economically defend to build a new capacity today." In addition, Flex LNG finances the existing fleet, the management has a good experience of operations and contracts, while carrying Fredriksen's quality label, as the main shareholder and funder, he writes in an email to Hegnar.no.
"With only a third of the fleet at sea, the years 2019 and 2020 should be very successful," adds Stensrud.
First line
Kepler Cheuvreux is in the process of upgrading his recommendation on Fredriksen's Team Frontline Tankerline to buy, a message announced.
At the same time, they adjust the price target from 43 to 98 crowns.
The brokerage shows, among other things, that the dominance of the United States in the production of hydrocarbons has structurally changed the structure of shipping.
Frontline increased by 14.2% to 62.60 NOK.
Songa Bulk
Songa Bulk rose 15.9% to 2.33 crowns. Tuesday afternoon, it was announced that the board of directors proposed an extraordinary dividend of 2.25 crowns per share.
In recent days, massive rates have risen sharply. The Baltic Dry index rose 10.0% to 1.339 on Tuesday.
Evry
Evry organized the day of the financial markets Tuesday. In this regard, the company announced that it was now targeting a growth of its annual turnover of more than 3% in 2022. At the same time, the company posts an EBIT margin of 13.5 at 14.5% over the same period.
"We are really working in the current sector and have launched the company, referring to the World Economic Forum, estimates that digitization offers a global value creation potential of 100 billion dollars by 2025.
The action of Evry took 2.7% to 30.85 NOK on Oslo Børs.
Gjensidige
Gjensidige Forsikring also held the stock market on Tuesday. The financial goals of the company are fixed.
The share rose 2.9% to 138.80 crowns.
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