Poland stocks lower at close of trade; WIG30 down 0.46%

Investing.com – Denmark stocks were lower after the close on Thursday, as losses in the Technology, Healthcare and Chemicals sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 1.24%.

The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S B (CSE:MAERSKb), which rose 2.39% or 365.00 points to trade at 15,640.00 at the close. Meanwhile, AP Moeller - Maersk A/S A (CSE:MAERSKa) added 2.11% or 320.00 points to end at 15,520.00 and Coloplast A/S (CSE:COLOb) was up 1.50% or 8.00 points to 541.40 in late trade.

The worst performers of the session were Novo Nordisk A/S Class B (CSE:NOVOb), which fell 2.90% or 11.10 points to trade at 370.40 at the close. Oersted AS (CSE:ORSTED) declined 2.80% or 4.10 points to end at 142.10 and Jyske Bank A/S (CSE:JYSK) was down 1.62% or 15.00 points to 910.00.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 84 to 41 and 15 ended unchanged.

Crude oil for March delivery was up 3.75% or 2.37 to $65.58 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 3.35% or 2.26 to hit $69.63 a barrel, while the April Gold Futures contract fell 0.39% or 20.96 to trade at $5,319.24 a troy ounce.

USD/DKK was up 0.16% to 6.26, while EUR/DKK unchanged 0.04% to 7.47.

The US Dollar Index Futures was down 0.02% at 96.25.

Investing.com -- Carvana shares came under heavy pressure on Wednesday following newly circulated allegations tied to the online retailer’s relationship with DriveTime, but BTIG pushed back strongly, arguing that the most serious claims lack foundation. 

In a new note, analyst Marvin Fong said the market appears to be giving undue weight to accusations emerging after DriveTime’s 2024 10-K was obtained via a Freedom of Information Act request linked to a class-action lawsuit.

BTIG stressed that “the most serious ones are not well-founded,” adding that these core allegations “underpin many other assertions being made.” 

The firm “disagrees with the DriveTime leverage calculation,” noting that claims of 20–40 times leverage misinterpret how securitized assets appear on DriveTime’s balance sheet. 

Because its Bridgecrest unit consolidates bankruptcy-remote trusts, BTIG said the allegations “incorrectly” treat securitizations as recourse debt. 

Adjusted properly, BTIG calculates 2024 Adjusted EBITDA of $99 million against $511 million of warehouse debt, “much more manageable” than alleged.

The firm also “disagrees with the servicing fee calculation,” saying critics understated receivables linked to Ally and Purchaser trusts, which made the implied third-party servicing fee appear artificially low. 

BTIG further rejected suggestions of a roughly $900 million loan write-down, calling the logic “incorrect” because year-end fair values reflect cumulative loan activity, not a single year’s originations.

Finally, BTIG dismissed attempts to use cash flow from operations as a proxy for P&L metrics, arguing that CFO “is affected by many things” and cannot be mapped to earnings.

BTIG reiterated its Buy rating and $535 price target on CVNA, saying its estimates “are not under review at this time.”

Investing.com – Norway stocks were higher after the close on Thursday, as gains in the Healthcare Equipment & Services, Pharma Biotech & Life Sciences and Utilities sectors led shares higher.

At the close in Oslo, the Oslo OBX added 0.70% to hit a new all time high.

The best performers of the session on the Oslo OBX were SalMar ASA (OL:SALM), which rose 3.34% or 18.50 points to trade at 573.00 at the close. Meanwhile, TGS NOPEC Geophysical Company ASA (OL:TGS) added 2.50% or 2.50 points to end at 102.50 and Aker BP ASA (OL:AKRBP) was up 2.35% or 6.50 points to 283.20 in late trade.

The worst performers of the session were Nel ASA (OL:NEL), which fell 2.77% or 0.06 points to trade at 2.18 at the close. Nordic Semiconductor ASA (OL:NOD) declined 2.52% or 3.30 points to end at 127.50 and Norwegian Air Shuttle ASA (OL:NAS) was down 2.51% or 0.42 points to 16.09.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 134 to 120 and 27 ended unchanged.

Crude oil for March delivery was up 3.50% or 2.21 to $65.42 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 3.15% or 2.12 to hit $69.49 a barrel, while the April Gold Futures contract fell 2.54% or 135.59 to trade at $5,204.61 a troy ounce.

EUR/NOK was unchanged 0.01% to 11.46, while USD/NOK rose 0.18% to 9.61.

The US Dollar Index Futures was up 0.05% at 96.32.

Investing.com – Israel stocks were lower after the close on Thursday, as losses in the Technology, Biomed and Real Estate sectors led shares lower.

At the close in Tel Aviv, the TA 35 fell 0.04%.

The best performers of the session on the TA 35 were Teva Pharmaceutical Industries Ltd (TASE:TEVA), which rose 2.82% or 279.00 points to trade at 10,170.00 at the close. Meanwhile, Migdal Insurance (TASE:MGDL) added 2.78% or 44.00 points to end at 1,625.00 and Harel (TASE:HARL) was up 2.22% or 300.00 points to 13,800.00 in late trade.

The worst performers of the session were NICE Ltd (TASE:NICE), which fell 4.58% or 1,600.00 points to trade at 33,350.00 at the close. Next Vision Stabilized Systems (TASE:NXSN) declined 3.93% or 1,200.00 points to end at 29,300.00 and Dimri (TASE:DIMRI) was down 3.45% or 1,410.00 points to 39,510.00.

Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 303 to 170 and 75 ended unchanged.

Crude oil for March delivery was up 3.35% or 2.12 to $65.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 3.03% or 2.04 to hit $69.41 a barrel, while the April Gold Futures contract fell 2.19% or 116.86 to trade at $5,223.34 a troy ounce.

USD/ILS was up 0.39% to 3.10, while EUR/ILS rose 0.21% to 3.69.

The US Dollar Index Futures was up 0.05% at 96.32.