May 25, 2018 / 11:37 AM / a month ago

NORWEGIAN STOCKS-Weak oil weighs on Oslo, while salmon shares rise

OSLO, May 25 (Reuters) - * Norwegian shares traded down on Friday * Oslo’s benchmark index fell -0.24 pct, or -2.09 points, to 871.20 points and was up by 7.22 pct year-to-date * The broader Oslo All Share Index was down 0.35 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-1.72 to $77.07 a barrel * OPEC and Russia consider to raise oil production by 1 mln barrel per day, sources told Reuters * Among the biggest firms on the Oslo Bourse, Equinor fell 1.3 pct, Telenor fell 1.34 pct and DNB rose 0.82 pct * Turnover at the Oslo Bourse was 2.3 billion Norwegian crowns and most traded shares were Equinor, Aker BP and Subsea 7 * Shares of salmon farmers Marine Harvest, Salmar, Lerøy and Bakkafrost were up 0.3 to 1.1 pct * Salmon price is close to NOK 80 crowns per kilo in the spot market and all forward contracts in 2018 and 2019 are now above 60 crowns per kilo apart from September 2018, implying record profits to come for salmon firms * Salmon prices for next week will be set in the next few hours

* Biggest gainers: B2holding ASA 2.93 pct, Treasure ASA 2.03 pct and Otello Corporation ASA 1.83 pct * Biggest losers: Funcom NV -5.57 pct, DNO ASA -5.42 pct and Aker Solutions ASA -3.60 pct * Abroad European shares rose 0.33 pct, Japan’s main share index Nikkei ended up 0.06 pct, while in China Shanghai index was down -0.40 pct and Dow Jones index in the United States -0.30 pct on Thursday (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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