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The Oslo Stock Exchange begins the day cautiously. Hydrogen newcomer Hydrogenpro launches on the first trading day on Merkur Market. The ABG Sundal Collier brokerage firm rises after reporting the best third quarter since 2007.
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After a flat day on the Stock Exchange on Tuesday, the Oslo Stock Exchange Main Index continues on the same track on Wednesday.
The leading index was up 0.13 percent on the open to 875.58 points.
Stock market wave lifts brokerage house
Before the opening of the stock exchange, brokerage ABG Sundal Collier presented the results of the third quarter.
Many new listings on the Oslo Stock Exchange helped the brokerage house increase revenue by 34 percent in the third quarter compared to the same period last year. So far this year, the brokerage’s revenue has risen 22 percent and the company posted its best third quarter since 2007.
ABG’s stock is up 0.99 percent from the start.
New hydrogen company in Merkur
On Wednesday, the hydrogen company Hydrogenpro will make its debut at Merkur Market. The company supplies electrolysis plants for hydrogen production and, prior to listing, acquired Mitsubishi from the owner.
According to a previous announcement by Hydrogenpro, Mitsubishi bought shares for NOK 120 million.
At the open, the stock was trading at NOK 36.2. By raising capital before listing, the company raised money at NOK 22.3 per share. This gives a percentage increase of 62.33 percent.
Green progress
Hydrogenpro is the 10th green company to be listed on the Stock Exchange this year.
Green shares on the Stock Exchange have risen from 4.2 percent of the total value on the New Year’s stock to 8.3 percent now, the Oslo Stock Exchange writes in a press release on Wednesday.
Yesterday’s winners continue
On Tuesday, Rec Silicon and the Kahoot questionnaire company got a lot of attention.
Rec Silicon was launched Tuesday after the company announced new collaborations in the production of solar cells and a new type of battery. Both deals involve production at the Moses Lake plant, which has been closed since July last year.
After the closing, Rec’s share price ended up 64.60 percent at NOK 11.44. On Wednesday, the Rec share was up 8.30 percent to NOK 12.5 per share.
Kahoot rose 13.19 percent on Tuesday after raising NOK 1.98 billion from a subsidiary of Japanese conglomerate Softbank Group.
The rally continues on Wednesday and the stock is up another 5.52 percent to 59.3 percent.
– Softbank invests in high-growth technology companies. This is a clear seal of quality that we have not seen before from a Norwegian technology company, said ABG Sundal Collier analyst Aksel Engebakken.
Weak development at the international level
In Asia, equity markets are heading slightly lower on Wednesday morning.
Yesterday on Wall Street ended with a slight decline, after the quarterly figures of major banks JPMorgan Chase and Citigroup did not impress the market. Apple shares fell 2.40 percent after the launch of a new iPhone model.
At the opening of the stock market, the price of oil is 42.26 dollars per barrel of North Sea oil (Brent spot), 0.42 percent less on the day.
That’s why Mitsubishi invested in Hydrogenpro, ready for the stock market.
also read
ABG Sundal Collier with best third quarter since 2007
Read Berntsen’s morning report.
