Decline in shellfish stocks on the Oslo Stock Exchange – E24

The main index of the Oslo Stock Exchange rose cautiously immediately after opening on Monday morning, but quickly turned negative.

At 10.20, the main index is down 1.1 percent.

Here, Mowi’s stock falls 8.31 percent, which is the most heavily traded stock exchange. The breeder reported the results of the first quarter before opening hours, where the operating profit was lower than expected by the market.

At the same time, Mowi stated that they had decided to postpone the dividend for the first quarter to the second quarter.

At the same time, the other aquaculture companies in Børsen are also declining, with the shellfish index dropping 4.68 percent. Grieg Seafood is down 5.57 percent here, Salmar is down 3.66 percent, while Lerøy Sefood is down 2.83 percent.

In the billing we find Equinor, which rises 1.35 percent. At the same time, DNB was down 0.27 percent, Telenor was down 1.58 percent, while Yara was up 0.25 percent.

Otherwise, Norwegian share is on the rise, as of writing, 14.4 percent to NOK 6.2.

Asian stock exchanges turned

The impact on the Oslo Stock Exchange comes after a mixed development in Asia in the morning, with several exchanges looking towards the end of the day.

– Investors in Asia rested on Monday. The Covid-19 numbers have been moving in a positive direction lately, in both Europe and the United States, which has contributed to further optimism on the world’s stock exchanges, says Nordnet stock expert Roger Berntsen on a comment.

The trend also comes after a sharp spike on Wall Street ahead of the weekend, where the top three indexes rose 2.4 percent on average.

– Investors in the United States were more concerned with how the Covid-19 virus works, but also with the financial effects this has now on companies that are releasing their figures for the first quarter, Berntsen says.

– That said, the companies’ future prospects (guide) will be the most guiding principle for stock exchanges going forward, we believe, adds Berntsen.

oil fall

The price of oil is clearly on the decline just after the opening of the stock market. At 09.10, a barrel of North Sea oil traded for $ 27.3 on the spot market, 3.57 percent per day.

At the same time, the spot price for US light oil dropped dramatically, to 17.67 percent to $ 15.21 per barrel. The price of the May contract reached its lowest level since the morning of 1999, according to the Reuters news agency.

Roger Berntsen of Northern Norway notes that oil giants such as Exxon Mobil, Chevron, Total, BP, as well as Equinor, are expected to significantly reduce their investment budgets in the future as a result of the cut agreement between Opec + and the G20 countries.

– That said, in the short term, the total absence of oil demand is what characterizes the market. In other words, only when large parts of the world economy have started again will the market be able to balance, says Berntsen.