Petroleum Geo-Services (PGSO) Dipped -4.76% on Nov 15

November 15, 2017 - By Hazel Jackson

Shares of Petroleum Geo-Services (STO:PGSO) last traded at 12, representing a move of -4.76%, or -0.6 per share, on volume of 19,115 shares. After opening the trading day at 12.1, shares of Petroleum Geo-Services traded in a close range. Petroleum Geo-Services currently has a total float of 338.58 million shares and on average sees 4.40 million shares exchange hands each day. The stock now has a 52-week low of 11.84 and high of 31.93.

The Swedish Equity Market

Sweden is known around the world for a lot of global brands. However, there is so much beyond those that Sweden is rarely linked to or acknowledged for.

What most people don’t know is that Sweden is also home to one of the best economies in all of Europe. With good corporate governance and a healthy trade and commerce environment, the Swedish economy is immensely growing to become more and more influential regionally and globally. It influence spread on the companies at the market like Petroleum Geo-Services. Through time, it has been established that Sweden is one of the most valuable contributors to the growth of the European economy.

The Stock Exchange

In Sweden, the Stockholm Stock Exchange or Nasdaq Stockholm is the main stock exchange situated in Frihamnen, Stockholm. Like the other stock exchanges in Nordic nations such as Norway and Iceland, it is owned and operated by Nasdaq, Inc. since 2008. These Nasdaq Nordic stock exchanges include the Tallinn Stock Exchange or Nasdaq Baltic; the Riga Stock Exchange or Nasdaq Baltic; the Iceland Stock Exchange or Nasdaq Iceland; the Helsinki Stock Exchange or Nasdaq Helsinki; the Copenhagen Stock Exchange or Nasdaq Copenhagen; and the Armenia Stock Exchange or Nasdaq OMX Armenia.

The Nasdaq Stockholm has been around since 1863. Until May 1990, it had operated at the Stockholm Stock Exchange Building using a floor trading system. It is in June 1990 that electronic trading system had arrived in the country. It brings improvements with each new year to the work of the market, helping Petroleum Geo-Services to stay there.

Regular trading on the Nasdaq Stockholm opens at 9:00 a.m. and closes at 5:00 p.m. Today, more than 300 stocks are listed on the Nasdaq Stockholm. Its total market valuation is currently at $1.26 trillion.

The Index

The benchmark index in Sweden is the OMX Stockholm 30 (OMXS30), which is a market-capitalization-weighted index that tracks the top 30 stocks listed on the Nasdaq Stockholm. It uses the base value of 125 points— the base date being September 1986.

The OMXS30 is semi-annually rebalanced in order to ensure proper and accurate indication of the Swedish economy. Every rebalancing period, old stocks can be dropped from it and new ones can be added— largely depending on different factors and overall performance in the equity market.

The three largest sectors in the OMXS30 include Industrials, Financials, and Consumer Services.

The OMXS30 had posted its all-time low of 98.96 points, which is widely attributed to Black Monday, in November 1987. During the last few months of the year 1987, equity markets around the world had tumbled, which is an event now commonly dubbed as Black Monday. The meltdown had begun in Hong Kong and quickly spread like a wildfire worldwide.

Nonetheless, the OMXS30 had eventually banked gains, posting its all-time high of 1,719.93 in April 2015. Petroleum Geo-Services also received the increase.

It is a general truth that the best way to bet on a country’s growth potentials and long-term prospects is to penetrate its equity market. Consequently, the best way to bank on the growth of the Swedish economy and to maximize the opportunities in the nation is to invest on Nasdaq Stockholm stocks.

More notable recent Petroleum Geo-Services (STO:PGSO) news were published by: Globenewswire.com which released: “Petroleum Geo-Services ASA: Mandatory Notification of Trade” on October 31, 2017, also Seekingalpha.com with their article: “Petroleum Geo-Services’ (PGSVY) CEO Rune Olav Pedersen on Q3 2017 Results …” published on October 26, 2017, Globenewswire.com published: “Petroleum Geo-Services ASA: Rune Olav Pedersen new President & CEO” on August 25, 2017. More interesting news about Petroleum Geo-Services (STO:PGSO) were released by: Globenewswire.com and their article: “Petroleum Geo-Services ASA: Settlement of parts of the 2014 PRSU program” published on September 01, 2017 as well as Seekingalpha.com‘s news article titled: “Petroleum Geo-Services’ (PGSVY) CEO Jon Erik Reinhardsen on Q2 2017 Results …” with publication date: July 29, 2017.

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