On the positive side, we note that Höegh Autoliners rose 1.4 percent after its fleet update showed that average prices are close to the peak in March.
“It is comforting to see that volumes are on their way back to the 1.3 million cubic meters per month level seen in 2023, indicating that the situation in the Red Sea is about to stabilize,” Pareto Securities wrote according to TDN Direkt in an update.
Elsewhere in the shipping sector, Himalaya Shipping, with Tor Olav Trøim on the owner side, rose nearly 3 percent to NOK 83.80 after Pareto Securities assumed coverage on the stock with a buy recommendation and a NOK 110 price target.
Stolt-Nielsen rose just over one percentage after SEB raised its price target from NOK 475 to NOK 495 and reiterated its buy recommendation.
Our energy is in red
The oil price contributes to the Oslo Stock Exchange performing better than other European stock exchanges. Brent crude remains at its levels after Thursday's notable rise, and the June contract stands at $90.64 per barrel. Barrels – up from $89.24 per barrel at the stock market's close on Thursday.
– The oil market is calculating more geopolitical risks after a conversation between Biden and Netanyahu ended with escalating comments. The market is anticipating Iran's response to the Israeli attack on the Iranian consulate in Syria and fears tensions will escalate again, Rebecca Babin, senior energy trader at private bank CIBC, tells Bloomberg.
She adds that crude oil supplies are unlikely to be directly affected, but fear of the unknown keeps traders on alert.
Equinor rose 0.4 percent to NOK 300.70, Aker BP 1.2 percent to NOK 285.90, while Vår Energi fell 2.5 percent to NOK 37.20 after SEB analyst Anders Rosenlund downgraded the stock from buy to hold. with it.
Elsewhere in oil, BlueNord rose 0.9 per cent to NOK 587 on the day's highest trading volume. This is linked to the fact that Taconic Capital Advisors UK, which is close to board member Peter Coleman, sold 400,000 shares at a price of NOK 582 – equivalent to proceeds of more than NOK 230 million.
Vow more
In the list of winners, we note that Vow continues to rise by more than a new 9 percent after the Scanship subsidiary announced before closing time on Thursday a contract worth more than 2 million euros with the prominent European shipyard. He described the contract as an “important milestone.”
Endúr stock rose more than 5 percent after Peter Kongslie of SpareBank 1 told Markets Finansavisen that the stock had been highlighted as a double-digit candidate.
– If we dare to look forward to 2025, and add what we think is a realistic value for Artec Aqua, we will reach NOK 95 per share, while the share price today is only NOK 45, he says.
Inin Group shares also rose just over 5 percent after Rail Production, a subsidiary of Nordic Infrastructure Group, was awarded a NOK 105 million contract to carry out track work on sections of railway between Oslo and Eidsvoll.
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