Norwegian fish farmers up on media report salmon tax could be adjusted

Leroy Seafood ASA

26/10/2022 10:01

** Shares of Norwegian fish farmers rise on Wednesday, with
an analyst pointing to a local media report suggesting the
Norwegian finance minister considers adjusting the new salmon
tax
    ** SalMar  SALM.OL  rises 5.5% to crown the pan-European
STOXX 600 index  .STOXX , after rising as much as 8.1%
    ** Shares in Mowi  MOWI.OL , Leroy Seafood Group  LSG.OL 
and Grieg Seafood  GSFG.OL  are up between 3.5% and 6%, with
Norway Royal Salmon rising 1.5%  NRS.OL 
    ** Arctic Securities analyst Axel Jacobsen says the rise in
stocks is related to an article in Norwegian newspaper
"Klassekampen" that says Norway's Minister of Finance Trygve
Slagsvold Vedum is open to adjusting the new salmon tax 
    ** Some fish farmers have cancelled acquisitions or put
investments on hold, and the sector shares slumped 15-20% after
the Norwegian government proposed a 40% resource tax on salmon
and trout farming from tax year 2023
    ** The proposed tax is still to be approved by the Norwegian
government
 (Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@thomsonreuters.com))