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Bakka-byks and rig stools dropped on the stock exchange



Developments at the Oslo Stock Exchange improved on Tuesday. The main index rose 0.02 percent to 908.30.

Shares and stocks were traded for NOK 4.6 billion.

Asian markets ended on Tuesday, and European stock markets are also experiencing positive developments. After an hour of trading, Wall Street's leading indices are also in the green zone.

Among other macro events, house prices fell in October, and Norges Bank believes the financial system has not changed significantly over the past year.

Liquid shares such as Equinor and DNO rose 1.14 and 3.76 percent, respectively, while Nel entered the market and fell 5.94 percent.

oil prices

At the close of the Oslo Stock Exchange, a North Sea oil barrel was traded at $ 62.73 and rose 0.97 percent during immigrant days.

WTI oil rose 0.92% to $ 57.05.

China is pushing the US to lift tariff surcharges applied in September as part of the first phase of a trade agreement in the US from China.

Reuters wrote on Tuesday.

The deal is expected to go away from the planned tariff surcharge for goods worth $ 156 billion, which will take effect from mid-September.

In any case, it is clear that China will demand that the tariff on Chinese imports be reduced as part of the partial agreement.

OPEC Secretary-General Mohammad Barkindo said on Tuesday that the 2020 oil market could be better than expected.

"Based on initial figures, 2020 seems potentially reversed," according to Reuters. Said.

5.-6. In December, OPEC and its allies will hold a meeting in Vienna to assess whether 1.2 million barrels should be cut and / or extended at the beginning of the day, which lasts until March next year. The purpose of the agreement is to balance the supply side in the oil market.

According to TDN Direct, US crude oil inventories are expected to increase by 2.7 million barrels in the week ending November 1. This will keep stocks close to the five-year average.

Prosafe

Prosafe reported a net profit of minus 112.0 million in the same period last year, after tax, which was minus 360.5 million dollars in the third quarter of 2019.

The average daily rate rose to $ 159,000 from $ 185 a year earlier.

The company registered a decline of $ 341 million in the quarter due to weak expectations in the North Sea.

For the coming year, Prosafe announced that the company expects a weak market with low demand for residential towers.

In terms of liquidity, the company was in an acceptable position until 2020.

Concerning the Competition Authority's decision to reject the merger between Floatel and Prosafe, the housing equipment company said they would appeal the decision.

The order aggregation list was $ 170 million at the end of the quarter, which was $ 232 million at the same turning point of the previous year.

At the end of the year, the company had a book value of only $ 14 million, giving it a one percent solvency.

Shares fell 20.11 percent on the Oslo Stock Exchange to NOK 5.56.

Bakkafrost

In the third quarter, Bakkafrost generated DKK 303.38 million operating profit compared to DKK 168 million compared to the previous year. DKK 274 million operating profit was expected.

The operating margin from the fish farm has reached a strong NOK 23.6 level as a result of good prices.

Harvest volume of Bakkafrost in the third quarter was 12,938 tons and the harvest volume in the first nine months of the year was 39,254 tons. The company directed the harvest volume of 54,500 tons for the whole of 2019.

Pareto Securites does not make major changes in forecasts as a result of the report, but raises the price target from 520 to 550 and recommends holding.

Shares increased 4.77% to NOK 593.00.

Norwegian

The Norwegian Prize is partnering with Synchrony and Mastercard to offer credit cards in the US.

Berkshire Hathaway of Warren Buffett is the sixth-largest shareholder in Synchrony Financial's 3.14% stake.

On Tuesday morning, a Norwegian subsidiary, Arctic Aviation Assets, signed an agreement to sell six Boeing 737-800 aircraft.

The buyer is Pembroke Aircraft Leasing 5, a wholly owned subsidiary of Standard Chartered.

After the payment of the debt, the transaction is expected to increase the company's liquidity by about $ 55 million. The transaction will also have a positive equity effect.

Norway said deliveries are scheduled for the fourth quarter of 2019 and for the first quarter of 2020.

Norwegian stock markets rose to 3.00-46.06 NOK on the Oslo Stock Exchange on Tuesday.

BW Offshore

On Tuesday morning, BW Offshore predicted that the company expects a $ 162 million EBITDA in the third quarter of 2019.

The company expects operating revenues to be $ 267 million in the quarter.

As for the Dussafu license, it is reported that gross production of about 11,600 barrels per day is produced during the quarter.

In a separate stock market statement from BW Offshore, the company said it could be converted into new and / or existing ordinary shares in the company through an overdue unsecured high-level secured bond in 2024.

The loan was initially $ 250 million, but could be raised to $ 300 million.

The bonds will have a fixed interest rate of 2.00 percent on an annual basis and a coupon rate of 2.50 percent on an annual basis.

The stock fell 9.03 percent, today's largest volume, to NOK 68.00.

Polarcus

In the third quarter of 2019, Polarcus reported a profit of $ 13.7 million for a minus $ 8.2 million in the same period last year.

Operating profit was $ 22.1 million, compared with minus $ 0.9 million in the same quarter of last year.

The company generated revenues of $ 103.4 million, up from $ 55 million in the same quarter of last year.

Polarcus provided $ 29.7 million in cash flow in the quarter up to $ 9.6 million in 2018 from operations before net net working capital.

At the end of the quarter, the company had a total of $ 145 million, up from $ 170 million in the same quarter last year.

Tik We have achieved outstanding financial results due to our ability to secure complex projects and deliver them on time. This year we saw more than 50 percent price increase compared to 2018. (…). I'm sure Polarcus will benefit from the advantages of the developing market with a young and highly functioning fleet, Dun said Duncan Eley, CEO of Polarcus.

Inventories rose 1.90 percent to NOK 1.29.

NRC

In the third quarter of 2019, the NRC Group reported that its post-tax profit of NOK 50 million was compared to NOK 32 million in the same period last year.

The contractor's EBITDA rose almost threefold from the third quarter of last year to 146 million compared with 58 million.

The company's turnover has more than doubled from NOK 851 million to NOK 1,850 this year, and NRC's Norwegian operations generated turnover of NOK 683 million. The increase in revenue is mainly driven by acquisitions.

The contractor's order book increased approximately 140 percent over the previous year. One of the reasons is that NRC cut the largest Norwegian railway contract of Bane NOR of 793 million NOK at the time.

The shares decreased by 4.87% on the Oslo Stock Exchange to NOK 50.80.


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