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After a cautious start, the Oslo Stock Exchange has gained momentum on the last trading day of the week. Norwegian is up more than 10 percent.
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The leading index is up 0.97 percent to 911.66 points after a small half-hour trade.
The index is elevated in particular by the solar company Scatec, which has risen 4.02%. Nordic Semiconductor also raises the index with an increase of 4.85 percent.
Telenor, on the other hand, is up 0.89 percent. The company announced late Thursday that it is selling Tapad, which on sale is valued at NOK 2.5 billion. After the write-offs of the investment, Telenor is left with a loss of NOK 720 million.
Norwegian is up about 12 percent after a sharp recession the day before. On Wednesday, the company filed for bankruptcy protection for several of its subsidiaries in Ireland. This happened after the government refused to provide further support to the company.
The airline now has about five months to come up with a reorganization plan. The company has told the Irish court that the company is more valuable with continued operations, rather than a situation where the company goes bankrupt.
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The most expensive division of stocks on the stock market
Since the opening of the trading day, Arendals Fossekompani no longer has the most expensive Børsen share. Earlier this week, the company’s general meeting decided to implement a stock split after the stock has been the most expensive on the Stock Exchange for many years.
On Thursday afternoon, the stock was trading for NOK 4,700. One old share will now become 25 new ones. Converted to the current number of shares, Thursday’s closing price was NOK 188.
After a strong start for Arendal’s action at Fossekompani, the jubilation has subsided somewhat. After half an hour of trading, the stock is up 4.26 percent to 196 kroner.
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No clarification from Seadrill
Crisis-stricken Seadrill released a business update on Friday morning that largely lacks accounting figures. The company lost NOK 1.52 billion during the third quarter, due to lower cash. Seadrill shares are down 2.16 percent.
MPC Container Ships fell 6.67 percent after presenting figures. Awilco LNG has followed suit, and the share is down 4.40 percent.
Otherwise, at Børsen, hydrogen company Nel is up 2.50 percent, while Røkke’s offshore wind company Aker Offshore Wind is up 10.20 percent with no special news from the company.
The price of oil is rising 0.09 percent to $ 44.16 a barrel, which is about the same level as when the stock market closed Thursday.
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