From what I understand it’s norde bank who acts as their custodian for all investments. Norde bank isn’t even a top 20 shareholder of WPL, which means the sovereign fund owns less than 1 million shares (ie less than $35m). So this shouldn’t effect the share price at all given that’s less than daily volume. The 2.5% sell off is a joke.
I can understand why they would diversify out of oil, but I don’t think it’s a message of oil and gas is dead. The market is overreacting. Equally leftist activists are of course influencing governments for a tiny % of the population which is wrong. The fact they are still holding the large cap Norwegian O&G sector suggests the future is strong.
If this dips low $30s I’ll buy more again.
News: WPL UPDATE 3-Norway fund to sell exploration, production firms, keep integrated energy stocks, page-2
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Last
$28.31 |
Change
0.350(1.25%) |
Mkt cap ! $53.75B | |||
| Open | High | Low | Value | Volume |
| $27.82 | $28.38 | $27.82 | $167.4M | 5.935M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 35 | $28.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.32 | 3974 | 3 |
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| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| WDS (ASX) Chart |