Start change for Oslo Børs – E24

An hour after the stock market opened, the leading index is down 0.24 percent, after a drop and a rise since the opening time.

The price of oil experienced a quiet rise during the morning hours, but has now started to fall. A barrel of North Sea oil (burned) is now trading at $ 43.62, down 0.18 percent since midnight.

On Thursday morning, Mowi and Equinor are contributing to the stock market crash, as two of the most traded stocks. The companies fell 0.84 and 1.87 percent, respectively.

Salmar will pay dividends after a good quarter

During the morning hours, several companies released new quarterly figures, including Subsea7, Fjordkraft, Veidekke and Salmar.

The latter underperformed well above expectations in the third quarter, increasing nearly 4 percent at the open of the stock market on Thursday.

The fish farming company reported an operating profit of NOK 647 million, which was previously expected to be NOK 490 million.

At the same time, a dividend of NOK 13 per share is proposed for fiscal year 2019, a total of NOK 1.47 billion.

With his 52 percent stake in the company, CEO Gustav Witzøe will receive a dividend of NOK 772 million.

Strong drop for Subsea 7

Subsea 7 reported a sharp drop in earnings in the third quarter on Thursday morning.

Stable revenues, but higher operating costs contributed to the oil supplier’s loss.

When the stock market opens, the company falls almost 3 percent.

The company had revenue of $ 947 in the third quarter, compared to $ 951 million in the corresponding quarter last year, the report showed.

During the same period, operating profit fell to $ 6.7 million from $ 58.6 million, while profit before taxes ended at minus $ 10.9 million, down from plus $ 70.6 million.

The company reported costs of $ 20 million that could be related to falling oil prices and COVID-19.