April 25, 2018 / 9:08 AM / in 3 months

NORWEGIAN STOCKS-Q1 reports disappoint, Statoil drops 2 pct

OSLO, April 25 (Reuters) - * Norwegian shares traded down on Wednesday * Oslo’s benchmark index fell -1.17 pct, or -9.97 points, to 842.40 points and was up by 4.65 pct year-to-date * The broader Oslo All Share Index was down 1.16 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.22 to $74.07 a barrel * Among the biggest firms on the Oslo Bourse, Statoil fell -2.23 pct and Telenor rose 2.57 pct * Statoil posted below-forecast earnings as its domestic unit and the refining business both missed expectations * Turnover at the Oslo Bourse was 2.1 bln Norwegian crowns and most traded shares were Telenor, Statoil and Storebrand * Shares of Norsk Hydro ASA were down 0.16 pct to NOK 50.5 * Norsk Hydro reported underlying operating profit above expectations but no reopening in sight of the Alunorte unit in Brazil due to environmental issues * Shares of insurer Gjensidige Forsikring were down 7.24 pct to NOK 126.8 after Q1 results well below expectations * Also shares in sports retailer XXL and goods consumer firm Orkla dive after disappointing Q1 results, with a cold and long winter hitting both companies * Life-insurer Storebrand was an exception, rising 2.50 pct after Q1 results above expectations * Telenor recovers 3 pct after dropping 4 pct on Tuesday despite better than expected core profit * Technology firm Asetek A/S down 12.55 pct after results and capital markets day * Nordic Semiconductor drops 6 pct to NOK 51 after a share issue of $103 mln at a price of NOK 50 per share * In shipping, both BW LPG and Frontline drop 4 pct. LPG and tanker rates are at extremely low levels * Abroad European shares fell -0.74 pct, Japan’s main share index Nikkei ended down -0.28 pct, while in China Shanghai index was down -0.35 pct and Dow Jones index in the United States -1.74 pct on Tuesday (Reporting By Ole Petter Skonnord, editing by Terje Solsvik)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below