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Oslo shares AFX at a glance outlook


Published : Mon, 29 Jan 2007 08:50
By : Agencies
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OSLO (AFX) - Shares are expected to open higher this morning on stronger oil prices arising from a bout of cold weather in the US and on speculation that Russian oil giant Gazprom is reconsidering its decision not to involve foreign oil firms in the development of the mammoth Shtokman gas field, dealers said.

The OSEBX Benchmark index closed 2.46 points higher at 458.25 and the OSEAX All Share index gained 3.79 points to close the week at 521.07.

Total turnover amounted to 11.39 bln nkr.

FORTHCOMING EVENTS

Today

-Nothing expected

Tomorrow

-EDB Business Partner Q4 Results

COMPANY NEWS

-Norsk Hydro said it is investing 22 mln nkr in the Norwegian company Tektonisk and its 'ShareCat' database technology.

PRESS REPORTS

-Russian gas monopoly Gazprom has sent a letter to several foreign oil

companies inviting them to further negotiations over the Shtokman field

in the Barents Sea. Among the invited companies are Norwegian major

Statoil, ConocoPhillips, Total and Chevron, but not Norsk Hydro (Barents Observer)

-Gazprom is once again open to the idea of partners in the development of Shtokman (Dagens Naeringsliv)

-Norwegian oil firm DNO is the perfect takeover candidate for Aker, the holding company of Aker Kvaerner and Aker Yards (Finansavisen)

MARKET SENTIMENT

-Carnegie reiterates its 'outperform' recommendation on Telenor and hikes its price target to 155 nkr, adding that the Norwegian telecoms group remains its top pick in the sector.

alastair.reed@thomson.com

ar/jr

COPYRIGHT

Copyright AFX News Limited 2006. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited

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