March 23, 2018 / 2:33 PM / 4 months ago

NORWEGIAN STOCKS-Oslo Bourse turns positive on rising oil, salmon prices

OSLO, March 23 (Reuters) -

** Norwegian shares traded up on Friday afternoon.

** Oslo’s benchmark index rose 0.53 percent, or 4.2 points, to 799.28 points and was down by -2.38 percent year-to-date.

** The broader Oslo All Share Index was up 0.5 percent

** Among the biggest firms on the Oslo Bourse, Statoil rose 0.53 percent, Telenor rose 1.10 percent and DNB rose 0.20 percent.

** A spike in expected salmon prices next week and rising oil prices turned the Oslo Bourse from minus to plus while bourses in Europe are still down due fears of a global trade war

** Turnover at the Oslo Bourse was 3.4 billion Norwegian crowns and most traded shares were Statoil, Norsk Hydro and DNB.

** Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $1.13 to $70.04 a barrel by 14:13 GMT.

** Shares of aluminium producer Norsk Hydro ASA were up 1.76 pct to NOK46.91 at 14:13 GMT.

** Norway is not exempted from U.S. tariffs on aluminium and steel but the impact of the tariffs is limited, Hydro told Reuters.

** Salmon shares SalMar, Leroey, Marine Harvest, Grieg Seafood, Bakkafrost and Norway Royal Salmon rose from 1-3 percent due to spike in salmon prices

** Biggest gainers: Asetek 4.23 percent, Leroey Seafood Group 3.20 percent and Kongsberg Automotive 3.08 percent.

** Biggest losers: Next Biometrics Group -5.37 percent, Gaming Innovation Group Inc -4.15 percent and Hexagon Composites ASA -2.81 percent.

** Abroad European shares fell -0.60 percent, Japan’s main share index Nikkei ended down -4.51 percent, while in China Shanghai index was down -3.38 percent and Dow Jones index in the United States rose 0.42 percent on Friday. (Reporting By Ole Petter Skonnord)

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