August 14, 2018 / 11:28 AM / 7 months ago

NORWEGIAN STOCKS-Norwegian Air rises, Frontline drops in flat market

OSLO, Aug 14 (Reuters) - * Norwegian shares traded down on Tuesday * Oslo’s benchmark index fell -0.03 pct, or -0.28 points, to 896.89 points and was up by 10.16 pct year-to-date * The broader Oslo All Share Index was down 0.11 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.72 to $73.33 a barrel * Among the biggest firms on the Oslo Bourse, Equinor fell -0.46 pct, Telenor rose 0.34 pct and DNB fell -0.12 pct * Turnover at the Oslo Bourse was 1.8 billion Norwegian crowns and most traded shares were Equinor, Norsk Hydro and Norwegian Air * Shares of Norwegian Air Shuttle ASA were up 2.93 pct to NOK 246.2. The company did not release any news on Tuesday. Analysts contacted by Reuters did not see a clear reason behind the share’s rise * Shares of Norsk Hydro ASA were down 0.13 pct to NOK 46.82 * Brazil’s Ministerio Publico has put forward a new set of proposals for how to resolve a dispute over Norsk Hydro’s Alunorte alumina refinery, which remains partly shut following a spill in early 2018, Norwegian newspaper Dagens Naeringsliv (DN) reported * Hydro told Reuters its dialogue with the authorities continued, but declined to comment on the specifics of the latest proposals * Tanker firm Frontline dropped 3.0 pct to NOK 39.30 per share, tanker rates continue to be far below Frontline’s cash break even level * Biggest gainers: Norwegian Air Shuttle ASA 2.93 pct, Hexagon Composites ASA 2.82 pct and Next Biometrics Group ASA 2.80 pct * Biggest losers: Gaming Innovation Group Inc -8.95 pct, XXL ASA -4.14 pct and Photocure ASA -3.53 pct * Abroad European shares rose 0.20 pct, Japan’s main share index Nikkei ended up 2.28 pct, while in China Shanghai index was down -0.17 pct and Dow Jones index in the United States -0.50 pct on Monday (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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