3/19/2019, 8:39 AM (Source: TeleTrader)
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Norsk Hydro hit by cyberattack

Norsk Hydro ASA said on Tuesday that it is "switching to manual operations as far as possible" in the wake of "an extensive cyberattack." Business has been impacted in several segments, according to the giant producer of aluminum.

"IT systems in most business areas are impacted... Hydro is working to contain and neutralize the attack, but does not yet know the full extent of the situation," the statement adds. The company's website was also down.

Norway's biggest multinational firm is also a major player in hydroelectric power. Its stocks yesterday closed at 35.83 Norwegian kroner. They have been on a downward slope since the last peak in November 2017, at 64.85 kroner. Norsk Hydro lost 8.62% since the start of the year, compared to a jump of 13.17% in the Stoxx Europe 600 index.

Breaking the News / IT