June 4, 2018 / 10:09 AM / 2 years ago

NORWEGIAN STOCKS-Kongsberg, Hoegh and Questerre rise on deals, upgrades

OSLO, June 4 (Reuters) - * Norwegian shares traded up on Monday * Oslo’s benchmark index rose 0.24 pct, or 2.12 points, to 882.65 points and was up by 8.11 pct year-to-date * The broader Oslo All Share Index was up 0.23 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $0.5 to $76.29 a barrel * Among the biggest firms on the Oslo Bourse, Equinor was flat 0.00 pct, Telenor rose 1.44 pct and DNB rose 0.13 pct * Turnover at the Oslo Bourse was 1.4 billion Norwegian crowns and most traded shares were Equinor, Telenor and Marine Harvest * Shares of Kongsberg Gruppen ASA were up 3.17 pct to NOK 189 * Broker DNB Markets raises recommendation to buy from hold and share price target to NOK 210 from 200 after Kongsberg Gruppen on Friday won a missile deal with the U.S. Navy * Shares of BW LPG Ltd were up 2.22 pct to NOK 35.45, peer Avance Gas rose 0.9 pct * Avance Gas spot index for very large gas carriers rose for the third consecutive week to $6,281 per day from $4,774 the previous week * Canadian gas explorer Questerre rose 9.5 pct to NOK 6.31 * Questerre says it has settled a lawsuit in Quebec, which means it will acquire exploration rights to 753,000 net acres in the Lowlands area * Broker Pareto reiterate buy on Questerre and said it was likely it will raise share price target from current NOK 11 per share * Hoegh LNG rose 2 pct after winning a 3 year contract for its Esperanza FSRU unit with China’s CNOOC * Biggest losers: Bergenbio ASA -6.54 pct, BW Offshore Ltd -4.21 pct and Nel ASA -3.99 pct * Abroad European shares rose 0.54 pct, Japan’s main share index Nikkei ended up 1.37 pct, while in China Shanghai index was up 0.52 pct and Dow Jones index in the United States 0.90 pct on Friday (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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