Bakkafrost rises as Q3 update exceeds expectations

P/F Bakkafrost

03/10/2024 11:46

** Shares in Bakkafrost  BAKKA.OL  rise 3.5% after the
Norwegian fish farmer posted its Q3 trading update above
expectations
    ** Handelsbanken analyst Erik Cederberg says favourable
biological conditions in Scotland helped Bakkafrost's volumes
rise 19% yoy
    ** "Bakkafrost states that part of the improvement seen on
Scotland is also due to their de-risking strategy, as well as
effective sea lice treatments," Cederberg says
    ** Shares in Bakkafrost's peer SalMar  SALM.OL  also rise
2.2%, and Cederberg notes SalMar is exposed to Scottish farming
via joint venture Norskott Havbruk shared with Leroy Seafood
 LSG.OL 
    ** The Bakkafrost shares are among the best performers on
the pan-European STOXX 600 index  .STOXX 

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))