March 23, 2018 / 9:41 AM / 2 years ago

NORWEGIAN STOCKS-Oslo shares drop, Norway not exempted from U.S. tariffs

OSLO, March 23 (Reuters) -

** Norwegian shares traded down on Friday.

** Oslo’s benchmark index fell -1.22 percent, or -9.68 points, to 785.40 points and was down by -2.38 percent year-to-date.

** The broader Oslo All Share Index was down 1.15 percent.

** Oslo Bourse is tracking global bourses down due to U.S. trade tariffs and fear of a trade war

** Among the biggest firms on the Oslo Bourse, Statoil fell -1.00 percent, Telenor fell -0.14 percent and DNB fell -1.03 percent.

** Turnover at the Oslo Bourse was 1.04 billion Norwegian crowns and most traded shares were Statoil, DNB and Norsk Hydro.

** Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.22 to $69.13 a barrel by 09:22 GMT.

** Shares of aluminium firm Norsk Hydro ASA were down 1.00 pct to NOK45.64 at 09:21 GMT.

** Norway is not exempted from the U.S tariffs imposed on steel and aluminium

** Norsk says Hydro sees limited impact from U.S aluminium tariffs

** Shares of Borr Drilling Ltd were down 2.75 pct to NOK35.4 at 09:21 GMT.

** Borr Drilling Ltd has completed a share issue of $250 million to finance the acquisition of Paragon Offshore

** Biggest gainers: Asetek A/S 1.45 percent, Otello Corporation ASA 1.15 percent and DNO ASA 0.81 percent.

** Biggest losers: Next Biometrics Group ASA -6.22 percent, Gaming Innovation Group Inc -4.15 percent and Targovax ASA -3.87 percent.

** Abroad European shares fell -1.20 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 fell -2.93 percent on Thursday. (Reporting By Ole Petter Skonnord, editing by Gwladys Fouche)

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