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On Thursday, the Oslo Stock Exchange opened with an increase of 0.39 percent.
The plastic recycling company Quantafuel rises over seven percent from the start on Thursday. Before the stock exchange opened, the company announced that it had started production at the factory in Skive in Denmark. According to the announcement, the newly installed components will work as expected, and the company has already had several days of production.
Quantafuel is listed on Euronext Growth and has a market value of more than NOK 4 billion. The share price has been hit hard in the past year and has so far this year fallen by more than 40 percent.
Wednesday’s big loser was the housing rig company Prosafe, which fell 42.5 percent after falling over 20 percent on Tuesday. This happened after it became known, among other things, that Danske Bank had sold a lot of shares following the reconstruction last week. On Thursday, the Prosafe share continues to fall and plunges over 20 percent from the start.
Before the stock market opened on Thursday, the market value of Prosafe was shaved off by more than NOK 3.8 billion this week.
The Aker BP share also fell during Wednesday’s trading. At closing, the stock was down over six percent. On Tuesday, it was announced that Kjell Inge Røkkes Aker BP will acquire Lundin Energy’s oil and gas business. When the news became known, the share rose above six percent, but the share price fell back on Wednesday. On Thursday, the share price fell over one percent at opening.
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On Wednesday, a number of brokerages updated their price targets and recommendations for Aker BP. Carnegie analyst Oddvar Bjørgan cut the price target from 400 to 375 kroner, as well as maintained a buy recommendation.
Uplifting omikron studies
Wednesday also ended with a rise in the leading indices in the United States. The broad S&P 500 index rose one percent, the Dow Jones industrial average rose 0.74 percent and the Nasdaq technology index rose 1.13 percent.
In a morning report on Thursday, analyst Lina Fransson in SEB writes that the willingness to take risks in the market increases after the uplifting results from omikron studies. At the same time, this week’s trading is characterized by low liquidity in the market towards the Christmas holidays.
The vaccine company Pfizer yesterday received an emergency approval of their corona pill Paxlovid from the American authorities. The stock rose over one percent on the news.
The drug, developed by Pfizer, is the first to be approved for use at home. Clinical studies have shown that the use of Paxlovid reduces hospital admissions by 89 percent when unvaccinated people in the risk group took the drug within three days after the first symptoms, Fransson writes.
Oil prices
The oil price continues to rise after the fall on Monday this week. On Thursday morning, one barrel of North Sea oil burned, which is used as a reference for oil trading worldwide, is traded for over 75 dollars a barrel.
There are several factors that have contributed to this upturn, including the weakening of the dollar and oil stock pulls in the US, writes Nordnet analyst Roger Berntsen in a morning report on Thursday.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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