Seafood index on the Oslo Stock Exchange falling 2.3 percent Thursday afternoon. According IntraFish due to the downward adjustment volume guided tours, falling spot prices and increased focus on costs.
Both Marine Harvest, Leroy Seafood and Grieg Seafood has today published quarterly. At the moment the shares down respectively 1.97 percent, 4.74 percent and 0.96 percent.
Analyst Allison Giskeødegård in Nordea Markets believes according to TDN Finans that it is positive that Marine Harvest will be paying out more in dividends than expected, even if part of this comes from the sale of shares in Grieg Seafood.
Giskeødegård believes it particularly are two things that make Marine Harvest and the rest sector continues to fall on the Oslo stock Exchange.
– Firstly, it’s that Marine Harvest CEO Aarskog says that costs are unacceptably high. It means that there is again a focus on costs. For all the three companies that have reported today, the costs in most areas flat or rising, with the exception of some regions for Leroy, where the cost comes down – but from very high levels, says Giskeødegård Intrafish.
– Second falling salmon prices in the spot market rather brutally this week at high slaughter. We hear talk about prices low 50s, concludes the analyst.
Allison Giskeødegård is Thursday’s guest in economics news on HegnarTV.
Please note that Periscopus by Trygve OBI owns four million shares, representing a stake of 0 , 9 percent of Marine Harvest.
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