June 5, 2018 / 1:23 PM / 2 months ago

NORWEGIAN STOCKS-Oslo hit by lower oil price, Norwegian Air weak before May traffic

OSLO, June 5 (Reuters) - * Norwegian shares traded down on Tuesday * Oslo’s benchmark index fell -0.30 pct, or -2.65 points, to 879.44 points and was up by 8.30 pct year-to-date * The broader Oslo All Share Index was down 0.5 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $-1.01 to $74.28 a barrel * Among the biggest firms on the Oslo Bourse, Equinor fell 1.26 pct, Telenor rose 0.65 pct and DNB rose 0.44 pct * Oil-related stocks PGS, Aker BP, DNO and TGS fell 1-5 pct * Turnover at the Oslo Bourse was 2.6 billion Norwegian crowns and most traded shares were Equinor, Marine Harvest and DNB * Shares of dry bulk shipper Golden Ocean Group were up 1.86 pct to NOK 71.3 * Dry bulk rates rose for fourth straight session * Norwegian Air fell 3.0 pct, will announce traffic figure for May tomorrow at GMT 0600 * Consensus for May yield is 0.36 and load factor 87.2 pct * Danske Bank believe consensus is too optimistic on yield and load factor estimates, though it still has a buy recommendation and a share price target of NOK 350 * Chemical tanker firm Odfjell gained 7 pct after its capital markets day * Biggest gainers: Next Biometrics Group ASA 13.45 pct, Questerre Energy Corp 10.49 pct * Next Biometrics wins “key” hardware certification in India * Biggest losers: Funcom NV -5.91 pct, Idex ASA -4.65 pct * Abroad European shares rose 0.30 pct, Japan’s main share index Nikkei ended up 0.28 pct, while in China Shanghai index was up 0.75 pct (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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