Slightly down on the Oslo Stock Exchange

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The cod farmer Norcod makes its debut on Merkur Market, while the salmon giant Mowi rises 2.75 percent after the result forecast was better than expected.

Håkon Mosvold Larsen

Published:

The main index on the Oslo Stock Exchange starts on Wednesday with a slight decline.

The index falls 0.46 percent to 873.49 points.

New Merkur Market listing

Thursday is the first trading day for the cod farmer Norcod at the Oslo Stock Exchange’s little brother Merkur Market.

The company was listed at NOK 50 per share, and is traded after opening for NOK 50.2, up 0.40 per cent.

Norcod will be the 27th company to be listed on Merkur Market so far this year.

Rec issue completed

The solar cell manufacturer Rec Silicon has in the morning announced that they have raised NOK 1 billion in a share issue. The company will also carry out a repair issue of around 18.5 million shares at a price of NOK 10.8.

On Thursday, the solar cell company also announces that they have entered into a settlement with Grant County in the state of Washington in connection with a property tax case at the Rec facility at Moses Lake.

Rec share rises 8.96 percent.

Rec Silicon succeeds with raising capital

Result forecast from Mowi

Before the stock market opened, salmon giant Mowi announced that they expected a sharp fall in operating profit in the third quarter. The fall in profit will be about 80 million euros in the third quarter (869 million kroner), the company believes. Complete Mowi results will be presented on November 4.

– In sum, this is a decent update with harvest volumes as expected, operating profit above consensus, probably driven by a strong Consumer Product business, but also better farming in Norway, writes marine analyst Christopher Robin Vinter in Sparebank 1 Markets in a note reproduced by TDN Direkt .

The Mowi share rises 2.75 percent on the earnings forecast.

also read

Mowi expects a sharp fall in operating profit in the third quarter

Red internationally

The oil price is before the stock market opening at 43.20 dollars, down 0.55 percent for the day.

The stock markets in Asia are pointing down on Thursday morning, with the Hong Kong stock market leading the fall with a decline of 1.18 percent.

The three leading indices on Wall Street fell on Wednesday, after Finance Minister Steven Mnuchin said it would be difficult to put in place a new crisis package for business before the election. The broad S&P 500 index fell 0.66 percent.

The morning report to Berntsen

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