May 30, 2018 / 11:13 AM / 5 months ago

NORWEGIAN STOCKS-Shipper BW LPG gains after Dorian bid

OSLO, May 30 (Reuters) - * Norwegian shares traded up on Wednesday * Oslo’s benchmark index rose 0.43 pct, or 3.74 points, to 871.32 points and was up by 6.52 pct year-to-date * The broader Oslo All Share Index was up 0.52 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, rose $0.28 to $75.67 a barrel * Among the biggest firms on the Oslo Bourse, Equinor rose 1.5 pct, Telenor rose 0.40 pct and DNB fell 0.23 pct * Turnover at the Oslo Bourse was 2.1 billion Norwegian crowns and most traded shares were Equinor, DNB and Norsk Hydro * Shares in salmon firms Marine Harvest, Leroey, Salmar, Norway Royal Salmon and Grieg rose 0.5 to 1.7 pct

* Norwegian companies, including fish farmers, topped an investor group’s new sustainable food producers’ index, which is based on criteria such as use of antibiotics, animal welfare and food safety * Despite a 10-15 crowns drop in salmon prices this week to 65-70 crowns, all forward contracts in 2018 and 2019 are still above 60 crowns per kilo apart from September 2018, implying record profits to come for salmon firms * Shares of BW LPG were up 4.56 pct to NOK 32.82 * BW LPG offers to buy competitor Dorian LPG in an all-stock deal valued at $1.1 billion * Dorian owns 22 very large gas carriers and if the deal materialize the combined shipping firm will own 73 vessels, or about a quarter of the global VLGC fleet * BW LPG also reported a lower Q1 loss than expected * Peer Avance Gas rose 1.9 pct * Biggest gainers: Idex ASA 11.99 pct, Thin Film Electronics ASA 7.94 pct and Scatec Solar ASA 6.15 pct * Solar firm Scatec Solar sets a new growth target of 2 GW, bringing total capacity above 3.5 GW by end 2021, it said on its capital markets day * Thin Film announced it has started fully processing EAS (electronic article surveillance) anti-theft tags on its roll-to-roll manufacturing line at the firms facility in San Jose, California * Biggest losers: Nordic Nanovector ASA -6.52 pct, Asetek A/S -2.82 pct and Seadrill Ltd -2.53 pct * Abroad European shares rose 0.11 pct, Japan’s main share index Nikkei ended down -1.52 pct, while in China Shanghai index was down -2.53 pct and Dow Jones index in the United States -1.58 pct on Tuesday (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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