Norwegian DNB Wallet It has risen 4.7 percent since Monday at the start of the year. This can be compared to a 1.5 per cent rise on the Oslo Stock Exchange.
But although the annual development looks good, Norsk Hydro was no higher. Since the stake fell by 10 percent yesterday since DNB took it into the wallet, a Stop Loss was triggered and the stake was selected.
Thus, DNB also escaped today’s ongoing decline of nearly 5 percent after the aluminum giant came out with a quarterly report. Profits of NOK 9,170 million for the first quarter of 2022 were decidedly higher than analysts had expected. But sales came in at 46,616 million Norwegian kroner, compared to 48,884 million Norwegian kroner expected. In addition, Norsk Hydro has indicated that weak demand from China will reduce the aluminum deficit in 2022.
Now that Norsk Hydro has left the wallet, Yara will be chosen instead. The company, among other things, manufactures agrochemicals and fertilizer products.
“We maintain our exposure to raw materials by bringing in Yara. The company reported strong quarterly numbers last week. At the same time, the consensus estimate is rising and the valuation is, in our opinion, attractive,” writes DNB.
DNB’s Norwegian portfolio currently consists of Equinor, Lerøy Seafood, Nordic Semiconductor, Grieg Seafood, SR Bank, Gjensidige, Vår Energi and Yara.
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