April 23, 2018 / 9:07 AM / a month ago

NORWEGIAN STOCKS-Subsea 7 rises after making hostile bid for McDermott

OSLO, April 23 (Reuters) - * Norwegian shares traded up on Monday * Oslo’s benchmark index rose 0.63 pct, or 5.26 points, to 851.43 points and was up by 3.89 pct year-to-date * The broader Oslo All Share Index was up 0.67 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $0.37 to $73.69 a barrel but up from $73.1 at closing of the Oslo Bourse at Friday * Among the biggest firms on the Oslo Bourse, Statoil rose 1.01 pct, Telenor rose 0.80 pct and DNB rose 0.33 pct * Turnover at the Oslo Bourse was 1.1 billion Norwegian crowns and most traded shares were Statoil, Subsea 7 and Marine Marvest * Shares of Aker BP ASA were up 2.08 pct to NOK 255.2 * Shares of Subsea 7 SA were up 2.53 pct to NOK 117.75 * Subsea 7 makes a $2 bln hostile bid for peer McDermott International, says it could be willing to pay more if McDermott willing to negotiate * Other oil services firms like Aker Solutions, Kvaerner, TGS and PGS rose 1 to 3 pct * Biggest gainers: Treasure ASA 3.85 pct, Scatec Solar ASA 3.23 pct and REC Silicon ASA 3.19 pct * Biggest losers: Seadrill Ltd -8.61 pct, Entra ASA -3.08 pct and Kitron ASA -2.96 pct * Abroad European shares fell -0.29 pct, Japan’s main share index Nikkei ended down -0.33 pct, while in China Shanghai index was down -0.09 pct and Dow Jones index in the United States -0.82 pct on Friday * European shares fell on Monday as results from Switzerland’s biggest bank, UBS, disappointed investors and a rise in U.S. Treasury yields put pressure on bond-proxy sectors (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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