June 19, 2018 / 1:40 PM / 5 months ago

NORWEGIAN STOCKS-Norwegian Air continues rise on CEO's upbeat take on profitability, M&A

OSLO, June 19 (Reuters) - * Norwegian shares traded down on Tuesday * Oslo’s benchmark index fell 0.30 pct, or 2.65 points, to 886.02 points and was up by 9.11 pct year-to-date * The broader Oslo All Share Index was down 0.32 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $0.51 to $74.81 a barrel * Among the biggest firms on the Oslo Bourse, Equinor fell 0.37 pct, Telenor fell 0.15 pct and DNB was flat 0.00 pct * Turnover at the Oslo Bourse was 3 billion Norwegian crowns * Shares of Norwegian Air were up 4.85 pct, the second-best performing stock on the Oslo Bourse, following a 10-pct jump on Monday on the possibility of a bidding war between Lufthansa and British Airways owner IAG for the budget airline * Norwegian CEO and founder Bjoern Kjos said on Tuesday the company was reaching a size at which it can be profitable while reiterating he will not block a sale of the budget carrier if other shareholders want out * Biggest gainer: Targovax ASA 5.80 pct * Biggest losers: Otello Corporation ASA -4.63 pct, and Wilh Wilhelmsen Holding ASA -4.35 pct * European shares fell 0.77 pct, Japan’s main share index Nikkei ended down 1.77 pct, while in China Shanghai index was down 3.82 pct (Reporting by Gwladys Fouche)

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