April 30, 2018 / 9:48 AM / 6 months ago

NORWEGIAN STOCKS-Fish farmers sink as government considers resource tax

OSLO, April 30 (Reuters) - * Norwegian shares traded down on Monday * Oslo’s benchmark index fell -0.47 pct, or -4.05 points, to 858.67 points and was up by 5.93 pct year-to-date * The broader Oslo All Share Index was down 0.51 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-0.71 to $73.93 a barrel * Among the biggest firms on the Oslo Bourse, Statoil fell -0.73 pct, Telenor rose 0.65 pct and DNB rose 1.17 pct * Turnover at the Oslo Bourse was 1.4 billion Norwegian crowns * Shares of Norwegian fish farmers, the country’s second-largest export industry after oil and gas production, traded down after the government said it was considering a natural resource tax on the sector * By 0927 GMT Marine Harvest was down 3.9 pct, Salmar 7.1 pct, Leroy Seafood 5.7 pct, Grieg Seafood 5.3 pct, Norway Royal Salmon 4.2 pct

* We expect a political majority in favour of imposing increased tax on the sector ... although it is too early to conclude on any details, we think it could mean an additional tax of 2-5 percent,” said Sparebank 1 Markets analyst Tore Toenseth * Biggest gainers: Aker Solutions ASA 2.10 pct, Otello Corporation ASA 2.09 pct and Axactor AB (publ) 1.89 pct * Biggest losers: Asetek A/S -9.16 pct, SalMar ASA -6.70 pct and Gaming Innovation Group Inc -6.16 pct * Abroad European shares rose 0.15 pct, Japan’s main share index Nikkei ended up 0.66 pct, while in China Shanghai index was up 0.23 pct and Dow Jones index in the United States -0.05 pct on Friday (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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