Rumors boost Ørsted stock in energetic surge

Ørsted’s shares have experienced a significant rise this week, with a 4.3 percent increase on Monday and an additional 4.2 percent on Tuesday morning. The surge is believed to be influenced by rumors published by the Norwegian Finansavisen, suggesting that Danish state shares in Ørsted may be for sale, with the Norwegian energy company Equinor potentially increasing its stake. Equinor, which acquired 10 percent of Ørsted’s shares last year, has not commented on the speculation. Investment economist Per Hansen from Nordnet suggests that Equinor likely paid at least 400 kroner per share for their current shares, compared to the current trading price around 330 kroner. Ørsted’s stock had previously reached nearly 1300 kroner in January 2021 but has since declined due to rising interest rates and write-downs on several American projects, hitting a low of 257 kroner on January 23.