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Norwegian was up more than 70 percent on Thursday, but the wind turned for the company on Friday. The stock fell and was the most traded stock on the Oslo Stock Exchange.
TURBULENT: Norwegian also packs a punch on Friday, but in the opposite direction from yesterday’s trading party.
Håkon Mosvold Larsen
The Oslo Stock Exchange opened 0.15 percent lower and the slide intensified during the morning. At closing time, the leading index was down 0.53 percent, but still ended up 0.25 percent higher for the week.
Norwegian was the most traded on Friday morning and started with an increase of about 8 percent. Then the value of the stock rose to a crown in no time.
Within minutes of opening, the stock began to decline, and when the stock market closed, the stock fell about 16.06 percent to 78 øre per share.
On Thursday, the airline was up 71.37 percent to 94 øre.
– Benefit coverage
At the close, the Norwegian share was traded for NOK 1,033 million.
– It is typical that there is coverage of benefits and many will go out. Most people are happy with this week’s increase, investment economist Mads Johannesen told Nordnet.
He also thought that it’s typical to make a profit on a Friday before Børsen takes a break this weekend.
Johannesen believes that many people trade Norwegian stocks on a day-to-day basis.
– And many people get upset when they see that the stock is oscillating, said the economist.
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Plastics company among the winners
Aker Solutions was up 3.25 percent. On Friday morning, it was announced that the company signed a letter of intent with Equinor worth around NOK 1 billion.
The recycling company Agilyx is one of today’s winners with an increase of 18.80 percent. The company has entered into a joint venture with oil giant ExxonMobil for the recycling of plastics.
Havila Shipping fell 6 percent on Friday, after rising above 12 percent on Thursday. Ahead of the stock market opening on Friday, news came that Havila will terminate his contract with Deep Ocean and demand money from the company.
Otherwise, Equinor was down 0.97 percent, hydrogen company Nel was up 2 and Norsk Hydro was down 1.12 percent as the most traded after Norwegian.
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Fall in oil prices
On Thursday afternoon, the price of oil surpassed $ 50 a barrel for the first time since March. North Sea oil rose in the morning but was down 0.34 percent from last night at $ 50.24 a barrel at closing time.
On Wall Street, there was a mixed picture Thursday, with the Dow Jones and the S&P 500 slightly in the red, while the Nasdaq closed higher. Asian equity markets are also pointing in different directions on Friday morning.
Correction: An earlier version of the article indicated that Aker Solutions was increasing 43.6 percent, but the increase was 4.36 percent. The error was corrected at 11 o’clock.
Read the full morning report here
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