August 23, 2018 / 12:46 PM / 3 months ago

NORWEGIAN STOCKS-Salmar and Hoegh LNG drop after Q2 results

OSLO, Aug 23 (Reuters) - * Norwegian shares traded up on Thursday * Oslo’s benchmark index rose 0.04 pct, or 0.34 points, to 907.33 points and was up by 11.36 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 $-0.22 to $74.56 a barrel * Among the biggest firms on the Oslo Bourse, Equinor rose 0.05 pct, Telenor fell 0.94 pct and DNB rose 0.60 pct * Turnover at the Oslo Bourse was 2.3 billion Norwegian crowns and most traded shares were Equinor, Salmar and Marine Harvest * Mixed development in fish farmers * Salmar shares were down 3.3 pct after weaker than expected Q2 results * Nordea expected 2018 operating profit consensus to drop 1-2 percent despite a “solid report” while Sparebank 1 Markets sees consensus down 2-3 percent * Leroy Seafood Group and Grieg Seafood recovered 2-3 percent after dropping earlier this week in the wake of disappointing Q2 results * Shares of Hoegh LNG Holdings Ltd were down 2.94 pct to NOK 46.2 * Hoegh LNG Holdings Ltd: Reported Q2 EBITDA slightly higher than expected and said demand for LNG projects were strong but backed out of a long term Chile contract because permitting of project will take longer than expected [ * Shares in tanker firm Frontline rose for the third day in a row by 3 pct, parallel with a rise in VLCC rates, which now are close to $20,000 per day * Biggest gainers: Gaming Innovation Group Inc 5.77 pct, XXL ASA 4.24 pct and Questerre Energy Corp 3.09 pct * Biggest losers: Kitron ASA -2.82 pct and Nordic Nanovector ASA -2.67 pct * Abroad European shares rose 0.07 pct, Japan’s main share index Nikkei ended up 0.22 pct, while in China Shanghai index was up 0.37 pct and Dow Jones index in the United States -0.34 pct on Wednesday (Reporting By Ole Petter Skonnord)

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