Norwegian Stocks: Wallenius shares dive on weak Q1, Norwegian Air rise before AGM

Wilh Wilhelmsen Holding ASA

08/05/2018 13:44

OSLO, May 8 (Reuters) - 
 * Norwegian shares traded down on Tuesday
 
 * Oslo's benchmark index  .OSEBX  fell -0.22 pct, or -1.96
points, to 871.78 points and was up by 7.27 pct year-to-date
 * The broader Oslo All Share Index  .OSEAX  was down 0.26
percent 
 * Brent crude futures  LCOc1 , a trigger for the oil heavy Oslo
Bourse, fell $-0.44 to $75.73 a barrel  O/R 
 * Among the biggest firms on the Oslo Bourse, Statoil  STL.OL 
fell -0.29 pct, Telenor  TEL.OL  rose 0.74 pct and DNB  DNB.OL 
rose 0.66 pct
 * Turnover at the Oslo Bourse was 3.1 bln Norwegian crowns and
most traded shares were Statoil STL.OL , Norwegian Air NWC.OL 
and Aker BP AKERBP.OL 
 * Shares of Norwegian Air Shuttle ASA  NWC.OL  NWC.OL  were up
3.50 pct to NOK 292.9 
 * Norwegian Air Shuttle NWC.OL  will hold its annual general
meeting at 1500 GMT on Tuesday, with markets awaiting any
potential further overtures from British Airways-owner IAG
 ICAG.L  or offers from other suitors
 
 * Shares of Wallenius Wilhelmsen Logistics ASA WWLO.OL  were
down 17.29 pct to NOK 46.15 after a weak Q1 performance
 * Wallenius Wilhelmsen Logistics ASA Q1 EBITDA fell to $125 mln
from $143 mln in Q1 last year and well below consensus of $183
million 
 * The continued underlying positive volume development was
offset by the contracted reduction in Hyundai Motor Group (HMG)
volumes, the logistic and shipper firm said in the report 
 
 * The results were further negatively impacted by rate
reductions, increased bunker cost and currency movements. On the
positive side, the company sees continued improvement in
volumes, especially for high & heavy 
 * Majority owner in Wilhelmsen Logistics ASA  WWLO.OL , Wilh
Wilhelmsen Holding ASA  WWI.OL , dropped -4.86 pct 
 * Shares in salmon farmers Leroey LSG.OL  and Norway Royal
Salmon NRSM.OL  were slightly up. The firms posted Q1 results as
expected earlier on Tuesday and said market prospects were
strong  urn:newsml:reuters.com:*:nL8N1SF0QR 
 
 * Other gainers: Funcom FUNCOM.OL  7.95 pct, Asetek ASETEK.OL  
6.81 pct and Frontline FRO.OL  5.41 pct
 * Abroad European shares  .FTEU3  fell -0.31 pct, Japan's main
share index Nikkei  .N225  ended up 0.18 pct, while in China
Shanghai index  .SSEC  was up 0.80 pct and Dow Jones index
 .DJI  in the United States 0.34 pct on Monday

 (Reporting By Ole Petter Skonnord, editing by Gwladys Fouche)
 ((olepetter.skonnord@thomsonreuters.com; 0047 23 31 65 97;))