Mowi rides coronavirus vaccine wave, as stock lifts 12.2%

Aslak Berge

Good news reaches seafood stocks across the globe.

Just after lunch on Monday, it was reported that US pharmaceutical giant Pfizer and German BioNTech announced that their vaccine candidate was more than 90 per-cent effective against the coronavirus.

This sparked a fierce stock market rally – across Europe and the US.

935 million
Even on a day when oil prices rose well above seven per-cent, it was a hard-tested big salmon company that was singled out. For most of the shares on the Oslo Stock Exchanges’ OBX index, it was Mowi’s that increased the most.

Mowi’s stock price had settled at 12.2 per-cent. This meant an increase in value of EUR 935 million. Mowi shares were last trading at NOK 177.90, up from NOK 158.55.

Another big fish that rose sharply was Lerøy Seafood Group. The Bergen-based salmon farmer’s stocks went up by 8.1 per-cent, or EUR 215 million, in increased stock market value. Lerøy’s share price was last traded at NOK 51.34 on Monday.

Debt heavy
SalMar, which together with NTS is the only seafood stock that has not been reduced in value in 2020, was up 4.3 per-cent.

Looking outside the OBX index, Chilean Salmones Camanchaca was lifted most out of the seafood stocks, at 10.4 per-cent. Grieg Seafood then followed, which added 9 per-cent. Then it was Lerøy owner Austevoll Seafood, with an increase of 8 per-cent.

NRS (4.8 per-cent), Atlantic Sapphire (3.7 per-cent) and Bakkafrost (4.6 per-cent) also recorded a market rise on Monday.

MultiExport Foods rose from CLP 218 to CLP 233 (6.8 per-cent) at the end of yesterday’s trading on the Santiago Stock Exchange.

GRAPH: Infront

Related Articles