Nordic runes have a blatant filiatiation to Italic scripts, especially the Etruscan alphabet. It's rather natural that it would spread from the Alps to the North Sea through the Rhine River. In that sense it's just as much descended from the Phoenician alphabet as the Latin alphabet is. But a direct descent from a Semitic script makes less sense. This being said there are cases of scripts being adopted from afar rather than from a neighbour. For example Transalpine Gaul used a Greek script before the Roman invasion, rather than an Italic one.