April 12, 2018 / 9:19 AM / 3 months ago

NORWEGIAN STOCKS-Norwegian Air rallies amid falling Oslo stocks

OSLO, April 12 (Reuters) -

* Norwegian shares traded down on Thursday

* Oslo’s benchmark index drops 0.15 pct, or 1.28 points, to 830.32 points and is up by 2.11 pct year-to-date

* The broader Oslo All Share Index was down 0.24 percent

* Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $0.28 to $71.78 a barrel but still close to 3.5 year high

* Among the biggest firms on the Oslo Bourse, Statoil fell 0.43 pct, Telenor fell 2.50 pct and DNB fell 0.80 pct

* Turnover at the Oslo Bourse was 1.8 billion Norwegian crowns and most traded shares were Statoil, Marine Harvest and Norsk Hydro

* Shares of Norwegian Air Shuttle ASA were up 9 pct to NOK 195.5 at 0915 GMT

* Analysts did not point to one specific reason for the spike but one said short-covering before Friday’s extraordinary general meeting of shareholders could be a reason

* Subsea 7 recommendation raised by RBC Capital Market to sector performer from underperform, price target to NOK 115 from NOK 105

* Shares of Subsea 7 up 3.28 pct to NOK 111.7

* Biggest gainers: Nordic Nanovector ASA 10.58 pct, Norwegian Air Shuttle ASA 9 pct and Aker Solutions ASA 3.52 pct

* Big losers: Telenor ASA -2.50 pct and REC Silicon ASA -2.28 pct

* Abroad European shares fell 0.14 pct, Japan’s main share index Nikkei ended down 0.12 pct, while in China Shanghai index was down 0.87 pct and Dow Jones index in the United States -0.90 pct on Wednesday

* Middle East tension worries markets (Reporting By Ole Petter Skonnord, editing by Terje Solsvik)

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