April 20, 2018 / 8:24 AM / a month ago

NORWEGIAN STOCKS-Yara drops on weak Q1, Odfjell Drilling sharply down after share issue

OSLO, April 20 (Reuters) - * Norwegian shares traded down on Friday after hittinh record on Thursday * Oslo’s benchmark index fell -0.08 pct, or -0.67 points, to 850.19 points and was up by 4.47 pct year-to-date * The broader Oslo All Share Index was unchanged for the day * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-0.04 to $73.74 a barrel * Among the biggest firms on the Oslo Bourse, Statoil fell -0.05 pct, Telenor rose 0.03 pct and DNB rose 0.07 pct * Turnover at the Oslo Bourse was 1.2 billion Norwegian crowns and most traded shares were Odfjell Drillling, Yara and Statoil * Shares of fertilizer firm Yara International ASA were down 3.1 pct to NOK 326.3 * Yara reported Q1 results below forecast on Friday but kept its guidance for cost cutting and improvement program. * Shares of Odfjell Drilling were down 8.59 pct to NOK 36 * The rig firm has raised $175 million through a private placement at a price of NOK 36 * Leading gainers: Tomra Systems 2.12 pct, Frontline 1.92 pct and Axactor 1.56 pct * Biggest losers: Seadrill Ltd -6.69 pct, Sparebank 1 SR Bank ASA -5.23 pct and Photocure ASA -2.97 pct * Abroad European shares fell -0.28 pct, Japan’s main share index Nikkei ended down -0.13 pct, while in China Shanghai index was down -1.47 pct and Dow Jones index in the United States -0.34 pct on Thursday (Reporting By Ole Petter Skonnord, editing by Terje Solsvik)

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