STOCKS NEWS EUROPE-Golden Ocean up as Platou sees upside

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15:04GMT 27March2009-Golden Ocean up as Platou sees upside

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Shares in Norwegian Golden Ocean Group (GOGL.OL) rise more than 10 percent as Platou Markets says the dry bulk shipping firm could complete its debt restructuring ahead of peers and lead sector consolidation.

"I have confidence they will reach a solution. There are plenty of others with considerably worse standing with the banks than Golden Ocean," analyst Dag Kilen at Platou says.

He says Golden Ocean's main shareholder, the Norwegian shipping tycoon John Fredriksen, showed leadership by buying back a Golden Ocean bond earlier this month.

Reuters messaging rm://richard.solem.reuters.com@reuters.net

13:47GMT 27March2009-Europe shares lower on weaker Wall St.

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European shares extend losses, tracking a decline in the United States, where equities fall in early trade on Wall Street after a strong run in recent days.

The FTSEurofirst 300 .FTEU3 index of top European shares touches the day's low og 736.4 points, down 1.2 percent.

Banks take most points off the index.

BNP Paribas (BNPP.PA), Banco Santander (SAN.MC), Deutsche Bank (DBKGn.DE), Societe Generale (SOGN.PA) and UBS (UBSN.VX) fall between 1.2 and 8.5 percent. The Dow Jones .DJI, S&P 500 .SPX and Nasdaq Composite .IXIC are down between 1.6 and 1.9 percent in early trade.

The S&P close on Thursday was up 23.1 percent from its 12-year low of March 9.