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Oslo Børs fell on Friday, pulled by several large companies that released the second quarter results.
Among these are Gjensidige Forsikring, who made a profit before tax of NOK 1253 million during the period, against an expected profit of 1599 million. The combined ratio of the company for non-life insurance operations was 88.2 percent, while it should be 84.9 percent.
Handelsbanken Capital Markets writes that the combined ratio of Tryg Forsikring's combined ratio of 82.8 percent could provide an indication that the weather had not caused as much damage as Gjensidige feared. However, the brokerage agency notes that the company says that weather conditions are the main reason for the low result, and she thinks that this could be due to different geographical exposure.
The trend of the profitability of auto insurance was low.
Another positive aspect of the report was, according to the brokerage firm, the continuation of strong growth in the turnover, which Handelsbanken considers the strength of the exchange model of the business clientele.
Pareto Securities expects to make some adjustments to the negative estimate after the report, based on, among other things, the prospects for tougher competition in Norway.
Gjensidige shares fell 10.3% at the Oslo Stock Exchange on Friday.
6 percent in today 's trade after the company released today results for the second quarter, where they reported a rift earnings' s. raises to $ 552 million, compared to $ 573 million
The report says that they increase the cost of exploration guidelines for 2018 to $ 425 million, up from $ 350 million previously. However, this increase in costs is offset by a reduction of $ 100 to $ 250 million in liquidation costs for the company.
Pareto Securities believes that exploration now provides a very high return on capital because oil prices are high.
Sparebank 1 Markets downgrade the recommendation on Aker BP's action to neutral from the buy and lower the target price to 320 crowns from 325 crowns, according to an update on Friday.
"Aker BP has been among the top performers in the past year and has generated massive value creation, but after an impressive development over the last year, we are degrading Aker BP to neutral, because we see less upside potential than previously, and we think shareholders have been well paid for the company's operational performance. "Oslo Børs Friday
The main index of the stock market Oslo ended up 1.20 percent higher at 874.36 points, for $ 4.814 million. (Terms)
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