April 4, 2018 / 9:07 AM / a year ago

NORWEGIAN STOCKS-Hydro drops after Brazil lawsuit, DNO up on Faroe stake purchase

OSLO, April 4 (Reuters) -

** Norwegian shares traded down on Wednesday

** Trade war concerns increase after China announces additional tariffs on $50 bln of U.S. goods

** Oslo’s benchmark index fell 0.91 percent, or 7.38 points, to 804.21 points and was down by 0.35 percent year-to-date

** The broader Oslo All Share Index was down 0.73 percent

** Among the biggest firms on the Oslo Bourse, Statoil rose 0.41 percent, Telenor fell 1.53 percent and DNB fell 1.30 percent

** Turnover at the Oslo Bourse was 1.3 billion Norwegian crowns and most traded shares were Statoil, DNB and Norsk Hydro

** Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $0.62 to $67.5 a barrel by 08:23 GMT

** Statoil was participant in gas discoveries in the Norwegian Sea

** DNO buys 15 pct in Faroe Petroleum, says interest is strategic. Shares in DNO were up 0.7 pct, Faroe Petroleum rose 12.4 pct

** Authorities in the Brazilian state of Para have sued Norsk Hydro ASA for 250 million reais ($74.83 million) in damages following an alleged toxic leak at the world’s largest alumina refinery Alunorte, a unit of the Norwegian firm

** Shares of Norsk Hydro ASA were down 1.05 pct at NOK 46.22

** Biggest gainers: Link Mobility Group ASA 2.36 percent, Seadrill Ltd 1.70 percent and Treasure ASA 1.51 percent

** Biggest losers: Otello Corporation ASA down 6.22 percent, Golden Ocean Group Ltd -3.74 percent and Grieg Seafood ASA -3.42 percent

** European shares fell -0.84 percent, Japan’s main share index Nikkei ended up 0.13 percent, while in China Shanghai index was down 0.15 percent and Dow Jones index in the United States rose 1.65 percent on Tuesday (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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