Solid start to the week for the Oslo Stock Exchange – E24

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The Oslo Stock Exchange starts the week strong, with Bergenbio and Nel in a fresh rise.

Håkon Mosvold Larsen / NTB Scanpix

Published:,

The main index on the Oslo Stock Exchange rose markedly from the start on Monday, and is on the rise to closing. The stock market rises 1.6 percent to 851.55 points.

This is after a positive start to the stock exchange day in Asia, where both the Hong Kong and Seoul stock exchanges have climbed more than one percent.

In Europe, the stock markets are also in the red, with several large stock exchanges up around 2 percent.

US indexes on Wall Street rose before the weekend, with the S&P 500 up 1.6 percent. Monday starts with a fresh rise in the US after four weeks down.

The oil price is on the rise on Monday and is at 16.30 up 1.05 percent for the day to 42.22 dollars a barrel.

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Expands Breidablikk

Before the stock exchange opened, it was revealed that Equinor will continue with the Breidablikk field, which will thus be the largest project to date that gets a thumbs up after the Storting’s crisis package. The development has a cost of NOK 18.6 billion, and the Equinor share rose around 0.8 per cent in early trading, but ended down 0.07 per cent when Børsen closed on Monday.

Otherwise, Bergenbio has announced that the UK will resume funding for a coronavirus study in which the company’s drug bemcentinib is the leading candidate. The share shot up 7.74 percent from the start, as Børsen’s second most traded, but the rise is somewhat subdued during the trading day. At 16.30, the share is up 3.7 percent.

Most traded, however, is Nel, which rises 6.62 percent. Mowi is the second most traded with a growth of 0.53 percent.

Kjell Inge Røkke’s Aker Offshore Wind is also heavily traded with a decrease of 9.89 percent.

Before the stock exchange opened, Kongsberg Defense & Aerospace also announced a contract with Airbus, where the company will supply electronics to the mobile satellite Thuraya 4. The shares in Kongsberg Gruppen rose slightly in early trading, but are down 0.86 percent at closing time on Monday.

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New company on Merkur Market

On Monday morning, the management of billionaire Arne Blystad’s OHT will ring the stock exchange bell, when the company is listed on Merkur Market.

Prior to the listing, the company has raised capital of NOK 541.7 million by issuing 27.1 million new shares. These had a subscription price of NOK 20 per share.

The subscription price in the issue gave the company a market value of NOK 2.4 billion.

Blystads Songa owns 62.5 million shares in the company, corresponding to 51.73 percent of the shares in the company. The second largest owner is Lotus Marine AS, which owns around 25.8 per cent of the shares.

The first trade was made at NOK 19.75 immediately after the stock exchange opened. This corresponds to a decrease of 1.25 per cent from the issue price.

The OHT share ended at NOK 18.75, which means that the value fell by 6.25 per cent during its first day on the Stock Exchange.

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