The Oslo stock exchange is rising as investors await the last interest rate meeting of the year

The main index on the Oslo Stock Exchange rose 0.7 percent Monday morning. The vast majority of heavyweight companies on the Oslo Stock Exchange are rising from the start.

Aker Solutions is up over four percent and is one of the most heavily traded stocks today. Norsk Hydro, which announced Monday morning that the company plans to list renewable Hydro Rein in 2022, will rise more than three percent.

The drilling company announced Monday morning that Seadrill has been awarded a contract with Brazilian oil company Petroleo worth about NOK 2.4 billion. The company rose above 20 percent at the opening of the stock exchange.

The main index on the Oslo Stock Exchange last week ended a solid week in the stock market with a cautious decline. This gave an increase of 1.3 percent for the week. Wall Street ended Friday night with a strong rise in all the leading indicators.

“Investors in the US stock market on Friday doubted that CPI growth in line with expectations, regardless of the increased level, would be enough for the Federal Reserve this week to choose to stick with the original plan,” DNB Markets wrote in its morning report on Monday.

This week, the last interest rate meeting of the year will be held at the US Federal Reserve. Central Bank Governor Jerome Powell indicated earlier that they plan to begin phasing out support purchases in connection with the pandemic.

“Together with the company’s positive updates from the technology sector, ongoing concerns about the pandemic and higher oil prices, reduced concern about faster inflation-cutting measures from the central bank means the Dow, S&P500 and Nasdaq indices could end the week higher,” DNB writes. Markets.

Rise in Asian stock markets

Monday morning continued positively in the Asian stock markets. Hong Kong’s Hang Seng rose more than one percent, while Japan’s Nikkei followed suit.

– This increase helped expectations that the Chinese authorities will continue the stimulus policy with the aim of maintaining growth also until 2022. This means the prospects for further measures in the form of increased investment programs, lower interest rates, good credit, and DNB markets writes in the morning report.

It appears that the focus this week will be primarily able to be directed towards the round of interest rate meetings. The US Federal Reserve will present its conclusions on interest rates on Wednesday night, while Norges, BOE (the newspaper of the Bank of England) and the ECB (the newspaper of the European Central Bank) will present their own conclusions during Thursday.

More company news

After the Oslo Stock Exchange closed on Friday, and before the stock exchange opened on Monday, many companies released news. This is how company stock prices interact:

• Atlantic Sapphire has received notice from Finanstilsynet regarding the financial reports of a credit facility, the company announced late Friday night. According to the report, the audit indicates that they will require the wild aquaculture company to provide a new version of the accounts for the first half of the year.
• Seismic monitoring company Seabird Exploration has received the termination of the contract for its Fulmar Explorer vessel, the company announced Friday evening. The company is down more than four percent on Monday morning.
• Aqua Bio Technology has raised 12.9 million Norwegian kroner in a private placement, the company said Monday morning. The company is located at just over one percent.
• Hydro aims to list renewable Hydro Rein on the stock exchange in 2022, the company announced Monday morning. The updated investment target is NOK 11 billion next year. Water rises above three percent.
• On Monday morning, Aker BP announced that the company has awarded two contracts worth NOK 440 million on the Valhall and King Lear oil fields to develop a new platform that will connect the two fields. The company rises by the next two percent.

With an increase of more than three percent, the price of oil rose sharply on Monday morning to more than $ 76 a barrel. At 8 a.m., about one percent retracted.

Today’s level marks a strong comeback after falling below $70 a barrel in early December.

Declining concern about further negative demand effects of new virus variants, along with signs of support for a sustainable Chinese growth rate ahead, means that the price of Brent crude in the morning hours is up today, according to DNB Markets. (Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.