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Oslo-listed salmon companies stocks climbing

Market analysts had lower estimates.

Norwegian salmon company SalMar saw the largest rise in stocks in the Oslo Stock Exchange on Thursday after releasing the second quarter trade update with higher volumes harvested than what analysts had previously estimated.

The share price rose 6.1 percent to NOK 429 (€44.50/$50.20) following the announcement.

The quarter two volumes for the core business were 12 percent higher than Sparebank 1 Markets estimates and 15 percent higher than Oslo-listed seafood companies, Seafood Market Analyst Tore Tonseth said.

As a result, SalMar is viewed as one of the most attractive companies in the sector, Tonseth said.

Harvest volumes were 18 percent more than what the independent Norwegian investment bank Pareto Securities expected.

The bank raised its estimate for earnings before interest and tax in the second quarter for SalMar by 16 percent to NOK 1.1 billion (€114.2 million/$128.8 million).

Other companies' stocks also increased such as Norway Royal Salmon by 2.3 percent, Bakkafrost by 1.6 percent and Mowi by 2 percent.

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