May 23, 2018 / 10:15 AM / 3 months ago

NORWEGIAN STOCKS-Ekornes shares gain on Chinese bid in weak market

OSLO, May 23 (Reuters) - * Norwegian shares traded down on Wednesday * Oslo’s benchmark index fell -1.16 pct, or -10.27 points, to 877.95 points and was up by 9.06 pct year-to-date * The broader Oslo All Share Index was down 1.21 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-0.63 to $78.94 a barrel * Among the biggest firms on the Oslo Bourse, Equinor fell 1.7 pct, Telenor fell -0.38 pct and DNB fell -0.77 pct * Turnover at the Oslo Bourse was 1.9 billion Norwegian crowns and most traded shares were Equinor, Yara and Subsea 7 * Shares of Norsk Hydro ASA were down 2.63 pct to NOK 50.34 at 09:48 GMT. * Aluminium price was down 0.6 pct * Shares of furniture maker Ekornes were up 15.23 pct to NOK 136.2 * China’s Qumei Home Furnishing Group made an all-cash bid for Norway’s Ekornes at 139 Norwegian crowns per share EKO.OL, valuing the firm at 5.1 billion Norwegian crowns ($630.75 million) * Other gainers: SalMar 1.19 pct and Af Gruppen 0.75 pct * Biggest losers: Seadrill Ltd -13.95 pct, Idex ASA -5.79 pct and Petroleum Geo Services ASA -5.04 pct * Abroad European shares fell -1.11 pct, Japan’s main share index Nikkei ended down -1.18 pct, while in China Shanghai index was down -1.40 pct and Dow Jones index in the United States -0.72 pct on Tuesday * Trade and growth fears hit global markets (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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