The week ends well on the Oslo Stock Exchange

Norges Bank headquartersNorges Bank headquarters.

After a difficult start to  the week an increase in the price of oil contributed to a nice upswing on the Oslo Stock Exchange for two consecutive days. On Friday the main index ended up at 566.34 points, up 1.78 percent.
As usual Statoil  stocks were the most traded with about a  billion on Friday.  The petroleum giant rose 3.93 per cent and contributed greatly to the upswing of the main index .
Other companies that excelled Friday were  especially Subsea 7, Petroleum Geo-Services and REC Silicon, which rose respectively 9.50, 13.97 and 15.16 percent.
Subsea 7 announced Friday that it has been awarded a contract worth more than $ 750 million for the development of subsea fields off the coast of Egypt.
Telenor (-0.77 percent), Bakkafrost (-2.38) and Tomra Systems (-2.08) were three of the very few companies with a fall in share prices Friday.
The major European stock exchanges also had positive developments Friday. In London  the FTSE 100 index went up by 1.26 percent, while the French CAC 40 and German DAX 30 rose by 1.48 and 1.66 percent respectively.
Oil prices have risen sharply in recent days, and at 17 o’clock Friday afternoon North sea oil was traded for $ 36.18 a barrel.


Source: NTB scanpix / Norway Today