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Oslo Børs rose on Monday, while the Brent price continued the positive trend towards the end of last week.
TGS-Nopec Geophysical Company (TGS) is one of the companies that experienced a sharp rise in the stock market after a positive quarterly update.
TGS announced Monday a net business turnover of about $ 158 million in the second quarter. the $ 141 million market, according to estimates obtained from SME Direct. TGS's late sales figures have been qualified by the company as solid, and these figures are used as an indicator of future activities.
Anne Gjøen, an analyst at Handelsbanken Capital Markets, points out that activity has increased more in mature regions, such as the United States. At the same time, Gjøen says that the activity of small and medium oil companies has evolved much more than that of large and believes that there will be a recovery, although not necessarily dramatic.
The company itself pointed out that net sales for the second quarter are largely attributable to "late sales" and Sparebank 1 Markets believes that this is positive for the industry as a whole since late sales are generally a leading indicator of total industry sales
Nordea Markets believes that today's TGS figures confirm the increased investments of oil companies.
"The good results of TGS send a signal that the entire activity of the oil services sector is on the way, driven by an important spirit of investment in the oil companies. current high oil prices, we expect this investment will further increase in the oil companies.This will be positive for oil services companies, including PGS, Subsea 7 and BW Offshore, which are our preferred shares in the sector, "writes the house brokerage. 19659002] In addition, DNB Markets announces that Atea will submit its second quarter report this week, and in this regard, the brokerage is consensual of 2% on revenue and 12% lower on the estimate operating income for the quarter. For the whole of 2018, the estimated operating profit of the brokerage is eight percent by consensus
. However, DNB Markets expects investors to focus on Friday's Atea presentation primarily in the Danish market. It seems that at the beginning of the summer, the company was sentenced to pay a fine of 10 million Danish kroner as a result of a corruption case already well known.
"The boat initially seemed cheaper than expected, the company while making internal changes and also decided not to appeal the decision. However, somewhat unexpectedly, the Danish authorities have urged all public authorities to suspend the markets under the existing framework agreements until they have examined the company's file and documentation. . In addition, Atea's competitor has entered into a framework agreement with the Danish authorities, "writes DNB Markets, stating that the total Danish market accounts for around 25% of the estimated sales for Atea and about 28% of the total sales. estimate of the ebitda.
The Atea index fell by 3.45%, traded for 23 million Norwegian kroner on Oslo Børs.
The main index of the Stock Exchange of 39, Oslo finished 1.29% at 888.66 points, trading at 3.4242 million Norwegian kroner. 19659015] window.fbAsyncInit = function () {
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