Marine Harvest ASA (MHG) and Leroey Seafood Group ASA (LSG) rose to the highest levels in more than a year in Oslo trading on bets for further gains in fish prices as the market recovers from a slump last year.
Marine Harvest, the world’s biggest salmon farmer, touched NOK 4.6 today, the highest since 24 June 2011, and traded up 1.9 percent at NOK 4.56 as of 12:15 a.m. in Oslo. Leroey, the second-largest fish farmer, gained 1.7 percent to NOK 117.5, the highest since 26 July 2011.
“There’s growing optimism,” said Henning Steffenrud, an analyst at Swedbank First Securities in Oslo. “It’s looking very tight toward the end of the year and into 2013. Lower supply-side growth and even periods with negative supply growth from Norway indicate higher prices, and that’s clearly the expectation for the salmon sector right now.”
