May 8, 2018 / 12:47 PM / 2 years ago

NORWEGIAN STOCKS-Wallenius shares dive on weak Q1, Norwegian Air rise before AGM

OSLO, May 8 (Reuters) - * Norwegian shares traded down on Tuesday * Oslo’s benchmark index fell -0.22 pct, or -1.96 points, to 871.78 points and was up by 7.27 pct year-to-date * The broader Oslo All Share Index was down 0.26 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-0.44 to $75.73 a barrel * Among the biggest firms on the Oslo Bourse, Statoil fell -0.29 pct, Telenor rose 0.74 pct and DNB rose 0.66 pct * Turnover at the Oslo Bourse was 3.1 bln Norwegian crowns and most traded shares were Statoil, Norwegian Air and Aker BP * Shares of Norwegian Air Shuttle ASA were up 3.50 pct to NOK 292.9 * Norwegian Air Shuttle will hold its annual general meeting at 1500 GMT on Tuesday, with markets awaiting any potential further overtures from British Airways-owner IAG or offers from other suitors * Shares of Wallenius Wilhelmsen Logistics ASA were down 17.29 pct to NOK 46.15 after a weak Q1 performance * Wallenius Wilhelmsen Logistics ASA Q1 EBITDA fell to $125 mln from $143 mln in Q1 last year and well below consensus of $183 million * The continued underlying positive volume development was offset by the contracted reduction in Hyundai Motor Group (HMG) volumes, the logistic and shipper firm said in the report * The results were further negatively impacted by rate reductions, increased bunker cost and currency movements. On the positive side, the company sees continued improvement in volumes, especially for high & heavy * Majority owner in Wilhelmsen Logistics ASA, Wilh Wilhelmsen Holding ASA, dropped -4.86 pct * Shares in salmon farmers Leroey and Norway Royal Salmon were slightly up. The firms posted Q1 results as expected earlier on Tuesday and said market prospects were strong * Other gainers: Funcom 7.95 pct, Asetek 6.81 pct and Frontline 5.41 pct * Abroad European shares fell -0.31 pct, Japan’s main share index Nikkei ended up 0.18 pct, while in China Shanghai index was up 0.80 pct and Dow Jones index in the United States 0.34 pct on Monday (Reporting By Ole Petter Skonnord, editing by Gwladys Fouche)

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