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From pre-IG Trading trades, the Oslo Stock Exchange fell 0.4 percent. Oil prices are rising, stock markets are falling in Asia, while Wall Street had a strong day yesterday.
Roger Berntsen at Nordnet believes the Oslo Stock Exchange will open 0.2 percent lower, or within range [-0,4, 0] percent. SalMar, Veidekke, Olav Thon Eiendomsselskap, Subsea 7, Fjorkraft, etc. in focus according to quarterly figures.
Petroleum
Brent oil rose 0.6 percent to $ 43.92 a barrel early Thursday morning. WTI oil rose 0.5 percent to $ 41.61 a barrel. By comparison, a barrel of North Sea oil traded at $ 42.46 a barrel at the close of business in Oslo on Tuesday.
Algeria’s energy minister said on Wednesday that OPEC could continue existing production cuts of 7.7 million barrels per day until 2021, or even extend the cuts if necessary.
Initially, an increase in production of 2 million barrels per day was planned in January, which investors are now pricing in, according to analysts.
– This is good news, without a doubt. But it will take time before vaccines are rolled out, and therefore it will be time before demand is positively affected, says Lachlan Shaw, director of trade at National Australia Bank.
Stock market crash in Asia
In Japan, the Nikkei is up 0.03 percent, while the broader Topix Index is down 0.7 percent.
The Shanghai Composite in China is down 0.2 percent, while the CSI 300 is up 0.07 percent. Hang Seng in Hong Kong is down 0.2 percent.
In South Korea, Kospi also fell 0.5 percent, the S & P / ASX 200 index in Australia was down 0.5 percent, while the Straits Times in Singapore fell 0.3 percent.
News of a coronavirus vaccine has faded after there is growing concern about the logistical challenges associated with delivering the vaccine to the world. Furthermore, infection rates are increasing in much of the world and closures are affecting Asian markets.
Back to Wall Street
On both Monday and Tuesday of this week, there was a strong turnover of the growth sector to equity value, which consequently led to a sharp decline for the high-tech Nasdaq and the associated rise for the Dow Jones.
On Wednesday, there was another throne shift, with the Nasdaq rising 2 percent to 11,786.43 points, while the Dow Jones closed 0.1 percent lower. The broad S&P 500 Index rose 0.8 percent to close at 3,572.67 points.
Apple, Netflix, Facebook, Amazon, Alphabet, and Microsoft were up 3, 2.2, 1.5, 3.4, 0.6, and 2.6 percent, respectively.
– A sudden macroeconomic shock we saw this week can lift all value stocks for a time. However, we believe that the outlook for next year should be more nuanced. Further growth is still expected at large tech companies, portfolio manager Ingio Fraser-Jenkins at Bernstein tells CNBC.
The main index
On Wednesday, the main index of the Oslo Stock Exchange rose 1.2 percent before ending at 889.43 points. The shares were traded for NOK 6.3 billion.
The shareholders of Lerøy Seafood and Austevoll Seafood were able to smile on Wednesday.
In the third quarter of 2020, Lerøy Seafood made an operating profit of NOK 370 million, compared to NOK 501 million in the same period last year. Although the result fell, the figures were better than expected.
– Restrictions related to the Covid-19 pandemic continue to affect demand for seafood, and in the third quarter this has particularly affected earnings in the whitefish segment, says CEO Henning Beltestad.
The share rose as much as 12.5 percent to NOK 57.88.
This is happening today – Thursday
Accounting reports
OSLO STOCK EXCHANGE
SalMar (kl 6.30),
FjordkraftT (at 7:00),
Veidekke (7.00 am),
OCT (7.30 am),
Submarine 7 (kl 8.00),
Ultimovacs (kl 8.00),
2020 Bulkers,
DOF,
YES,
NTS
Euronext growth
AASB-ME,
EPIC-ME,
IFISH-ME,
MNTR-ME,
MRCEL-ME,
SUNSB-ME
OSLO AXESS
ICE (kl 7.00),
OET
ANOTHER NORTH
Fingerprint cards (kl 7.00)
OTHER FOREIGNERS
Cisco (after the close of the US stock exchanges),
SFL Corporation
GENERAL MEETINGS
LSTSB-ME (kl 18.00),
ARCUS (extra),
NCC (outside)
PRESENTATIONS
FKRAFT: quarterly presentation 8.00
ICE: quarterly presentation 8.00
SALM: quarterly presentation 8.00
VEI: quarterly presentation 8.00
DOF: quarterly presentation 8.30
MNTR-ME: quarterly presentation 8.30
MRCEL-ME: quarterly presentation 8.30
Fingerprint cards: quarterly filing 9.00
NTS: quarterly presentation 9.00
LAST: quarterly presentation 9.00
BRA-ME: quarterly presentation 10.00
OLT: quarterly presentation 10.00
SUBC: update of the webcast on technology and business development 13.00
2020: quarterly presentation 15.00
SFL Corporation: quarterly presentation 16.00
CAPITAL MARKET DAY
KOG
EXCLUSIVE DIVIDEND
EQNR ($ 0.09)
MACROSTATISTICAK
Norway: GDP September 8
Norway: interest rates in banks and mortgage companies September 8
Japan: machine order for September 1.50
Norway: GDP 3rd quarter 8.00
United Kingdom: GDP Q3 8.00
UK: Industrial Production September 8
Germany: CPI finally October 8
Sweden Statistics: CPI 9.30 October
EMU: industrial production September 11
USA: CPI October 14.30
USA: First-time applicant for unemployment benefits, week 14:30
MACRO OTHER
Oil: IEA monthly report 10.00
Oil: weekly oil inventory DOE 17.00
OTHER
Gas: Weekly Gas Storage Figures from DOE 16.30
