The main index of the Oslo Poor’s opened up 0.4 percent on Wednesday morning, for the third day in a row, after it was a turbulent week with great fluctuations.
Maersk Höegh sells at a discount
Shares in Höegh Autoliners fell sharply, by more than 13 percent, after it became known earlier in the morning that the main owner AP Möller-Maersk had sold a significant stake of 7.1 percent. Höegh shares are among the most heavily traded stocks on the Oslo Poor’s Wednesday morning.
The Danish logistics giant is selling approximately 13.5 million shares in the shipping company for NOK 61 a share, for a total of NOK 820 million. It’s a huge discount as Höegh stock was trading at NOK 68.10 when Oslo Poor’s closed on Tuesday. The stock is trading below NOK 60 on the exchange on Wednesday morning.
AP Möller-Maersk was left with a 19.3 percent stake in Höegh after selling the shares and entering into a 90-day lock-in agreement for the remaining shares.
Shares of the Norwegian Block Exchange continued higher, up more than 13 percent on Wednesday morning. The rise of the cryptocurrency exchange’s stock market took off in earnest following the announcement on Monday that Thomas Christensen was stepping down as CEO of rival DLTX.
Other than that, it’s worth noting that Norsk Hydro’s stake is up about five percent as turnover picks up. The share is up nearly seven percent this week, without any news from the company that delivered very strong numbers for 2022 two weeks ago.
China sent Asian stock markets higher
US stock markets ended Tuesday evening slightly lower, closing February in the red on Wall Street. But last night, strong PMI figures from China lifted Asian stocks significantly, and the positive development of the stock market in Asia is expected to extend to European stocks on Wednesday.
The price of oil rose somewhat during the evening and overnight, and North Sea oil is trading on Wednesday morning at around $84 a barrel. Gas prices have risen 4.2 percent since Tuesday. Salmon prices are also strong, with prices up nine percent last week.(conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We’d like you to share our statuses using links that lead directly to our pages. Reproduction or other use of all or part of the Content may be made only with written permission or as permitted by law. For more terms see here.
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