DnB NOR removes StatoilHydro, adds RCCL

DnB NOR removes StatoilHydro, adds RCCL to weekly “buy” list of Oslo stocks

On Sept. 28, DnB NOR Markets dropped oil major StatoilHydro ASA (OSL: STL) while adding cruise giant Royal Caribbean Cruises Ltd, or RCCL, (OSL: RCL) to its portfolio of recommended Oslo-listed stocks for the current business week.

“The oil price seems weak and our fundamental analysis implies a further decline in the autumn. Therefore we have excluded StatoilHydro,” the stockbroker said on Monday.

“RCCL has been included after a week of absence. The figures by rival Carnival Corp (NYSE: CCL) were better than expected, at the same time as the news from Carnival contributed to us upgrading our estimates for RCCL,” DnB NOR Markets added.

The broker’s weekly portfolio gave a return of 0.6% over the past week, while the Oslo benchmark had a return of 2.0%.

DnB NOR’s portfolio for this week also includes savings bank Sparebanken Ost (OSL: SPOG), seismic surveyor TGS-NOPEC Geophysical company (OSL: TGS), drug developer Algeta (OSL: ALGETA), telecoms major Telenor ASA (OSL: TEL), home builder BWG Homes (OSL: BWG) and aquaculture company Copeinca (OSL: COP).

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