Oslo Stock Exchange Update: Falls, Inflation Figures, and Individual Share Movements

The case is updated throughout the stock exchange day!

The fall on the Oslo Stock Exchange is accelerating. At 10.25, the stock exchange is down 0.19 per cent, after a rise of less than 0.1 per cent on Friday.

There are large movements in several individual shares. Seismic companies PGS and TGS plunge on high volume after the latter announced a drop in income in the second quarter of the year compared to the previous year.

Earlier on Monday, SBB released the inflation figures. It showed that the consumer price index rose 6.4 per cent in June, against the expected 6.2 per cent.

– This is surprising and gives a 50 per cent chance of an interest rate peak of 4.50 per cent. There may well be a double increase in August, says senior economist at Handelsbanken, Sara Midtgaard.

The price for a barrel of North Sea oil is traded for USD 77.85 per barrel. barrel. By way of comparison, the contract traded at USD 77.31 per barrel when Oslo Børs closed on Friday afternoon.

Equinor rises 0.2 percent while Aker BP is up 0.1 percent.

Stocks in green

The farming company SalMar had a slaughter volume of 43,300 tonnes in the second quarter. The full report for the second quarter will be published on 24 August. The salmon share is up 0.4 percent.

Oslo Stock Exchange-listed Belships sells its subsidiary Belships Management to V.Group. This results in a profit of over DKK 90 million, which is booked in the second quarter. The shipping company rises 1.7 percent.

Elliptic Labs has a new smartphone manufacturer as a customer, who will use Elliptic Labs’ AI Virtual Proximity Sensor. The technology company rises 5.4 percent.

Cambi has been awarded the first project in Israel for a THP system in Israel. The project is expected to be delivered in the first quarter of 2025. The share is up 3.6 per cent.

Stocks in red

Seismic company TGS expects an IFRS turnover of USD 206 million in the second quarter of 2023, compared to USD 230 million in the second quarter of 2022, according to a stock exchange announcement. The share is down 12.0 percent on high volume. The competitor PGS is down 11.9 per cent.

Interior chain Kid had a turnover of 724.2 million in the second quarter, compared to 742.8 million in the same period last year. This corresponds to a decrease of 2.5 per cent. The share falls 3.8 percent.

Electromagnetic Geoservices reported on Friday after the stock exchange closed that utilization for the second quarter was zero percent, compared to 18 percent the previous year. The share is down 7.0 percent.

The toll company Q-Free announced after the stock exchange’s closing time on Friday that it has signed a three-year extension in Miami in the US. The contract has a value of 20-26 million. The share is down 0.4 percent.

2023-07-10 07:05:09
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