May 16, 2018 / 11:03 AM / 2 years ago

NORWEGIAN STOCKS-Borr Drilling and Norsk Hydro gain after new deals

OSLO, May 16 (Reuters) - * Norwegian shares traded near flat on Wednesday * Oslo’s benchmark index rose 0.01 pct, or 0.09 points, to 880.65 points and was up by 8.12 pct year-to-date * The broader Oslo All Share Index was down 0.06 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-0.52 to $77.91 a barrel * Among the biggest firms on the Oslo Bourse, Equinor fell 1.2 pct, Telenor fell -0.15 pct and DNB fell -1.33 pct * Equinor will have to pay an undisclosed sum to China’s Oilfield Services Ltd (COSL) for cancelling a contract for a COSL Innovator drilling rig after a fatal accident two years ago, a Norway court ruled on Tuesday * Turnover at the Oslo Bourse was 2.6 billion Norwegian crowns and most traded shares were Salmar, Borr Drilling and Equinor * Shares in Borr Drilling rose 5 pct after buying 5 rigs for completing a $350 mln convertible bond issue to partly finance a purchase of 5 jackup rigs for total $745 mln * Peer Seadrill rose 15 pct * Oil services firms PGS, Subsea 7 and Aker Solutions rose 2 to 5 pct * Aker Solutions won a contract valued above 1 billion Norwegian crowns with Equinor for building a module for the Troll A platform offshore Norway * Shares of Norsk Hydro ASA were up 4.2 pct * Norsk Hydro signs a 19-year wind power contract with Swedish Blakliden Fäbodberget Wind AB * Shares in fish farmer Salmar dropped 4.9 pct to NOK 361.4 crowns per share * Primary insider Glomar AS sold 1.06 mln shares in Salmar at a price of 364 crowns per share * Other losers: Schibsted ASA -2.3 pct and Wallenius Wilhelmsen Logistics ASA -1.81 pct * Abroad European shares rose 0.04 pct, Japan’s main share index Nikkei ended down -0.44 pct, while in China Shanghai index was down -0.70 pct and Dow Jones index in the United States -0.78 pct on Tuesday (Reporting By Ole Petter Skonnord, editing by Gwladys Fouche)

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