Jubilation day on the Oslo Stock Exchange
The main index of the Oslo Stock Exchange rose 2 percent Friday and ended at 588.05 points. The explanation for the rise is an upturn in the oil industry.
For the week as a whole the upturn has been at 5.7 percent.
The rig company Seadrill is today’s big winner with a growth of 38.9 per cent this Friday. Petroleum Geo-Services follows in second place with an increase of 16.1 percent. Subsea 7 is in third place, with a growth of 8.9 percent.
Only two companies fell among the most traded. Those two companies are Royal Caribbean Cruises and Yara, who both fell by 0.3 percent.
The mood is upbeat in other leading European stock markets as well. FTSE 100 in London rose by 0.8 percent, while the DAX 30 in Frankfurt rose by 0.4 percent and the CAC 40 in Paris rose by 0.7 percent.
Oil prices also continues upward. A barrel of North Sea oil was traded for $ 37.6 on Friday afternoo, while a barrel of US light oil had the price tag of $ 35.2.
Source: NTB scanpix / Norway Today
