The rise in profits contributes to the recovery of the Oslo Stock Exchange – E24

There is a positive mood on the Oslo Stock Exchange on Tuesday morning, with the main index rising 1.02 percent to 765.26 points.

Here, Hydro and XXL shares are on the rise, after the companies released their quarterly reports on Wednesday morning.

XXL, which posted its largest deficit in the first quarter of history, rose more than seven percent at 11 p.m.

At the same time, Hydro, which was able to announce a stronger adjusted result and a solid currency exchange, was up 5.35 percent.

Among the most negotiated companies we also find DNB and Equinor, which increased 1.98 and 3.44 percent respectively.

In addition, Bergenbio’s stock shoots up, at the time of writing at a price of NOK 39.80. This is an 89.02 percent increase for the day. The company announced Tuesday night that its drug has been selected for a British crown study.

Oil prices are rebounding

Oil prices have risen in the early hours of the morning.

At 11 am, a barrel of North Sea oil (Brent) traded for $ 21.34 per barrel on the spot market, up 1.96 percent per day.

The price of US light oil (WTI) is also on the rise, to 6.34 percent at $ 14.12 a barrel.

Price increases occurred the day after a launch in the US. USA, where it became known that US oil stocks USA They were not as crowded as feared last week.

Last week, US oil stocks increased by 10 million barrels to a total of 510 million barrels, according to figures from the American Petroleum Institute. Previous construction of 10.6 million barrels was expected in advance, according to Reuters news agency.

Decision of the US interest rate. USA

Development on the Oslo Stock Exchange follows a decline on Wall Street the night before, when the three benchmark indices fell 0.7 percent on average. However, Asian stock exchanges were weak the next morning.

– It seemed to be another strong day on Wall Street for a long time, but rising sales pressure throughout the day lowered the indices, writes Nordnet analyst Roger Berntsen in a comment.

– That being said, yesterday’s moves are due to making profit more than anything else. The trend in Covid-19 figures (infection and death figures) has been encouraging lately, giving investors more faith in the future. Most stocks whose “right to life” increased significantly from below in March, he adds.

Later on Wednesday, an interest rate decision comes from the US central bank. USA And it is the result of a series of giants like Boeing, Microsoft, Tesla and Facebook.