Oslo Børs in the Red – Stock Rocket Up 52 Percent – E24

After the Oslo Stock Exchange was more or less unchanged on Friday, the Oslo Stock Exchange rallied since the beginning of the week.

The leading index ended Monday up 1.76 percent to 867.94 points.

At the same time, the price of oil (burned spot) rose 5.42 percent to $ 41.24 a barrel when the stock market closed. The development comes after the price of oil last week experienced the biggest weekly drop since June, according to Bloomberg. Friday was a particularly heavy day with a drop close to four percent.

US light oil (WTI) is also up 5.5 percent at $ 39 a barrel.

The price of oil rises on the positive news about President Donald Trump, who was shown Covid-19 before the weekend. According to the president’s chief of staff, doctors will consider whether Trump can be discharged from the hospital on Monday.

In Europe, there is also a rally on Monday afternoon, and Wall Street opened solidly at the plus.

Røkke’s renewable investment accelerates

Among the most traded on the Oslo Stock Exchange, Equinor rose 2.36 percent, while Nel was up 4.02 percent and Telenor 1.43 percent. DNB rose 2.26% after banks in Asia and Australia performed positively overnight.

Insr Insurance had the biggest drop on Monday with a drop of 31.7 percent after shareholders voted in favor of the company selling the entire portfolio to Storebrand.

Kjell Inge Røkke’s Aker Carbon Capture was the bag’s winner on Monday afternoon with a 51.75 percent gain, and was also among the most traded stocks when Børsen closed.

Strong start for newcomer

On Monday, the e-learning company Mintra Holding was listed on Merkur Market. The company raised fresh capital in September by issuing 51.54 million new shares at NOK 9.70 each.

This is the sixth IT company to be listed on the Oslo Stock Exchange so far this year.

After a few hours of trading, the new share is priced at NOK 7.68. This is a 20.8 percent decrease in capital raising. This gives a market value of NOK 1.43 billion, down from a valuation of NOK 1.8 billion before listing.

Mintra CEO Scott Kerr says in a press release that the money the company has raised will be used to accelerate organic growth and acquisitions.

– We plan to invest more, expand our product range and offer our customers a broader and constantly improving product range, allowing them to streamline processes and further develop employees, says Scott Kerr, CEO of Mintra.

But not only Mintra will appear on the list these days. Over the next two weeks, with the exception of Mintra, nine announcements have been announced.

Cancer vaccine company Vaccibody’s list on Wednesday is expected to be one of the most interesting. This comes after the company announced ahead of the weekend that it had signed the largest biotech deal in Norwegian history, worth up to NOK 6.7 billion.

Stock market jump before listing

Before the opening of the stock exchange, Arendals Fossekompani announced that the green technology company Voule will raise up to NOK 1 billion, which will be NOK 32 each. It values ​​the startups at NOK 4 billion.

Arendals Fossekompani came out of the starting hole on Monday, taking a 13.64 percent stake at a price of NOK 4,500 in the morning. At closing time, the stock was up 11.1 percent to NOK 4,400 per share.

– Volue is a leading provider of business critical software and the company contributes to a green energy transition. A separate listing from Volue will further strengthen the opportunity for future growth and value creation, says Ørjan Svanevik, CEO of Arendals Fossekompani, in a statement.

Photocure announced before the opening of the stock exchange that they have been granted a patent for the pharmaceutical tool Cevira in Europe. Cevira is used to treat cervical cancer. The company’s share was up 4.19 percent on the day.

Insr shareholders voted in favor of sale: stock plummets