STOCKWATCH StatoilHydro outperforms as investors welcome production guidance |
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Mon, 12 Nov 2007 09:15
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OSLO (Thomson Financial) - Shares in StatoilHydro fell in opening trade, but outperformed a weaker overall market, as investors welcomed the news that the oil giant has kept its 2007 production guidance steady at 1.735 mln barrels per day, dealers said.At 9.20 am, shares in the Norwegian oil firm were down 0.80 nkr, or 0.45 pct, at 178, while the OSEBX benchmark index was 0.67 pct weaker at 503.91.Earlier this morning StatoilHydro kept its 2007 average daily production guidance steady at 1.735 mln, given an oil price of 60 usd per barrel and a gas off-take in line with typical seasonal variations.Carnegie pointed out that the market should react positively to the announcement, as StatoilHydro has 'a history of lowering the guidance'.The broker has an 'outperform' recommendation on the oil firm.alastair.reed@thomson.comar/slmCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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StatoilHydro Q3 pretax ahead on currency gains, underlying weaker UPDATE 