Strong jump for salmon shares – E24

Salmon shares soared on Oslo Børs after political agreement on the controversial salmon tax.

A little before 2 p.m., around half an hour after the government parties agreed on Thursday with Venstre and Patient Focus on a 25 per cent ground rent tax on aquaculture, several of the salmon shares were up sharply.

This is how the shares ended the trading day:

• Salmar rose 10.87 percent
• Mowi rose 6.28 percent
• Lerøy Seafood rose 9.03 per cent
• Grieg Seafood rises 9.06 per cent
• Austervoll Seafood is up 8.78 percent

Oslo Børs was moderately up on Thursday afternoon, after opening relatively flat. The main index ended down 0.17 percent for the day.

The oil price is at a slightly lower level than when Børsen closed yesterday. North Sea oil (burnt spot) is traded for 76.2 dollars a barrel at the time of writing. At the same time, there is a decrease of 2.5 percent since midnight.

This is how it went for the most traded shares on the Stock Exchange:

• Equinor fell 3.48 percent
• Salmar rose 10.87 percent
• Mowi rose 6.28 percent
• Aker BP fell 2.10 percent
• DNB rose 1.11 percent

The oil company Aker BP announced on Thursday morning a “significant” oil discovery near the Yggdrasil area in the North Sea.

Idex Biometrics fell 8.38 percent, to a price of NOK 0.831 per share. The company has raised 125 million in fresh money through a private placement with a subscription price of NOK 0.85 per share.

MPC Container Ships rose 1.75 percent, thus continuing the good trend from the last few days, after the shipping company presented its quarterly figures on Tuesday.

A large number of Oslo Børs companies have presented their quarterly results in the morning hours on Thursday. Read more about the figures and other market news throughout the day Stock life.

Deficit for Kid

The interior chain turned sharply downwards to a negative result in the first quarter of this year. This is shown in the quarterly report that was presented on Thursday morning.

The share ended the day down 2.67 percent.

– All in all, a weak report, and we expect to lower the 2023 estimates for ebitda by around 5 percent on the basis of mainly higher operating costs, write Pareto analysts Joachim Huse and Gard Aarvik in an update.

The result before tax ended at minus NOK 57.4 million in the quarter. This is down from a profit of 11.5 million in the first quarter of last year. Operating profit before depreciation and amortization (ebitda) fell to NOK 56.6 million, also a sharp decrease from NOK 110.4 million at the same time in 2022.

Already in April, the chain reported a turnover of NOK 605 million in the quarter. It was relatively stable overall compared to last year. The Kid stores saw growth, while the revenues of the Hemtex stores declined.

Results rush

Several of the companies on Oslo Børs have presented their quarterly results in the morning hours.

• Elliptic Labs fell 10.28 percent. The software company, which works with artificial intelligence (AI), among other things, increased its losses slightly in the first quarter compared to the previous year.
• Codelab Capital, formerly known as Patientsky Group, fell 15 percent. The company, which is now a holding company with Uniscal as one investment, had an adjusted ebitda of minus NOK 6.5 million in the first quarter of 2023, compared to NOK 0.7 million in the same period the previous year.
• 5th Planet Games fell 3.45 percent. The game developer had slightly lower revenues in the first quarter than at the same time last year, the quarterly report shows. Operating profit remained relatively stable, while losses before tax were reduced as a result of lower finance costs.

On the other hand, Nekkar rises 4.59 per cent. The offshore supplier almost doubled its operating profit, operational ebitda, to NOK 23 million in the first quarter.

There has also been a bunch of other stock market news on Thursday:

• The oil service company Archer has entered into a five-year Coiled Tubing and Pumping contract with Perenco in the UK. The contract has an estimated value of 50 million dollars, and is an extension of the current contract with Perenco.
• Reese McNeel, who is currently CFO of Prosafe, will take over as interim CEO of the company with immediate effect. At the end of April, it became clear that Jesper Kragh Andresen is stepping down as CEO of the housing rig company after six years.