NORWEGIAN STOCKS-Kongsberg, Hoegh and Questerre rise on deals, upgrades

OSLO, June 4 (Reuters) – * Norwegian shares traded up on Monday * Oslo’s benchmark index rose 0.24 pct, or 2.12 points, to 882.65 points and was up by 8.11 pct year-to-date * The broader Oslo All Share Index was up 0.23 percent * Brent crude futures, a trigger for the oil heavy Oslo Bourse, fell $0.5 to $76.29 a barrel * Among the biggest firms on the Oslo Bourse, Equinor was flat 0.00 pct, Telenor rose 1.44 pct and DNB rose 0.13 pct * Turnover at the Oslo Bourse was 1.4 billion Norwegian crowns and most traded shares were Equinor, Telenor and Marine Harvest * Shares of Kongsberg Gruppen ASA were up 3.17 pct to NOK 189 * Broker DNB Markets raises recommendation to buy from hold and share price target to NOK 210 from 200 after Kongsberg Gruppen on Friday won a missile deal with the U.S. Navy * Shares of BW LPG Ltd were up 2.22 pct to NOK 35.45, peer Avance Gas rose 0.9 pct * Avance Gas spot index for very large gas carriers rose for the third consecutive week to $6,281 per day from $4,774 the previous week * Canadian gas explorer Questerre rose 9.5 pct to NOK 6.31 * Questerre says it has settled a lawsuit in Quebec, which means it will acquire exploration rights to 753,000 net acres in the Lowlands area * Broker Pareto reiterate buy on Questerre and said it was likely it will raise share price target from current NOK 11 per share * Hoegh LNG rose 2 pct after winning a 3 year contract for its Esperanza FSRU unit with China’s CNOOC * Biggest losers: Bergenbio ASA -6.54 pct, BW Offshore Ltd -4.21 pct and Nel ASA -3.99 pct * Abroad European shares rose 0.54 pct, Japan’s main

Read More Here...

Bookmark the permalink.