Nordnet’s Roger Berntsen believes Oslo Børs will open 0.2% higher or within the range [-0,2, 0,6] percent.
In his morning report the analyst highlights that the fourth quarter results season began on Friday, led by the large financial institutions JPMorgan, Wells Fargo, Bank of America and Citigroup. But investors were unimpressed.
“Citigroup was the only stock to end up in the red, thanks to news of significant job cuts. It remains to be seen whether investor expectations for fourth quarter results are too high or not,” he writes.
Asia
Today the Chinese central bank surprised the markets by keeping the one-year interest rate on MLF (medium-term loan) loans unchanged at 2.50%.
At the same time, banks received liquidity of 995 billion yuan, much more than the expected 121 billion yuan.
The Shanghai Composite thus reversed the morning stock market decline and is now up 0.31%. Hong Kong’s Hang Seng lost 0.28%.
In Japan, the Nikkei advanced 0.91%, while the broader Topix index rose 1.13%. South Korea’s Kospi weakened by 0.27%.
Read the full Asia update here.
The price of oil
The February contract for Brent oil rose 0.13% to $78.39 a barrel on Monday morning, while WTI oil rose 0.11% to $72.76 a barrel.
By comparison, a barrel of North Sea oil traded Friday on the Oslo Stock Exchange at $79.56 a barrel.
Wall Street
The final trading day of the week on Wall Street ended on a mixed note. The sector-heavy Dow Jones fell 0.31% to 37,593.50. The S&P 500 index closed 0.08% higher at 4,783.85, while the Nasdaq technology index rose 0.02% to 14,972.76.
After disappointing forecasts for 2024, Delta Air Lines shares fell heavily, closing down 8.99%.
Several American airline stocks fell after Delta’s quarterly report: United Airlines closed down 10.63%, American Airlines lost 9.46% and Southwest Airlines lost 4.27%.
Read the full US update here.
Oslo Stock Exchange
The main Oslo Børs index closed the final trading day of the week up 0.7% at 1,298.75.
The Frontline, dominated by Fredriksen, recovered after yesterday’s decline and rose 7.3% to NOK 232.85. Shipping sector stocks rose across the board after the US and UK carried out massive airstrikes on Friday night against Houthi rebels in Yemen in response to attacks on ships in the Red Sea.
Hafnia rose 4.2% to NOK 71.15, Avance Gas rose 1.8% to NOK 139.40, BW LPG rose 1.5% to NOK 146 and Golden Ocean rose 1.4% to NOK 102 ,60 NOK. MPC container ships closed 2.9% higher at NOK 14.62.
2024-01-15 06:36:47
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