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    LSG   NO0003096208

LEROY SEAFOOD

(LSG)
  Report
Real-time Oslo Bors  -  10:26:59 2023-01-26 am EST
57.55 NOK   -1.54%
01/10Lerøy Seafood Group Asa : Trading update Q4 2022
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

European shares reverse losses as BoE intervenes to cool bond markets

09/28/2022 | 04:17am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

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Europe shares reverse losses

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ECB may need to raise rates by 75 bps in Oct, policymakers say

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SalMar at STOXX 600 bottom on Norway tax-hike plan

Sept 28 (Reuters) - European shares gained on Wednesday, with the UK's blue-chip index reversing losses after the Bank of England said it would purchase bonds to cool a turmoil in markets stemming from the British government's fiscal plans.

The continent-wide STOXX 600 index was up 0.3% after falling nearly 2% earlier in the session as an intensifying energy crisis in the region and the relentless surge in global bond yields fuelled worries about a recession.

The BoE said it would buy as many long-dated government bonds as needed between now and Oct. 14 to stabilise financial markets, adding that it would postpone next week's start of its gilt sale programme.

The pound rose and UK gilt prices rocketed. London's FTSE 100 closed up 0.3% after falling as much as 2%.

"I don't think the markets view this as an all clear. They view this as very necessary first aid," said Steve Sosnick, chief strategist at Interactive Brokers.

The BoE move came after the International Monetary Fund and ratings agency Moody's ramped up pressure on Britain to reverse a new economic strategy revealed last week which proposed unfunded tax cuts, prompting a surge in bond yields and a searing drop in the pound.

"We're still going to have to see over the coming days and weeks whether this was a temporary measure. We're going to have to see if the UK government backs off its fiscal plans after the disastrous response that they received in the marketplace," Sosnick said.

Euro zone borrowing costs fell, reversing an earlier rise to multi-year highs.

Heightening jitters about rising interest rates hitting economic growth, the European Central Bank may need to hike rates by another 75 basis points at its October meeting and move again in December to a level that no longer stimulates the economy, policymakers said on Wednesday.

The ECB lifted interest rates by a combined 125 basis points at its past two meetings.

On the STOXX 600, energy, healthcare and miners rose between 0.4% and 2% but were countered by a sharp fall in bank stocks and consumer staples.

Meanwhile, geopolitical tensions intensified as Europe investigated what Germany, Denmark and Sweden said were attacks on two Nord Stream pipelines at the centre of an energy standoff.

Shares of fish farmers such as Mowi, Leroy Seafood and SalMar dropped between 18% and 30% after the Norwegian government proposed a resource tax on salmon and trout farming of 40% from the tax year 2023. (Reporting by Devik Jain, Amruta Khandekar and Susan Mathew in Bengaluru and Dhara Ranasinghe in London; Editing by Subhranshu Sahu, Savio D'Souza, Vinay Dwivedi and Jonathan Oatis)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.09% 0.57281 Delayed Quote.1.55%
BRITISH POUND / AUSTRALIAN DOLLAR (GBP/AUD) -0.16% 1.7431 Delayed Quote.-1.49%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.50% 1.65214 Delayed Quote.0.60%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.67% 161.49 Delayed Quote.1.20%
BRITISH POUND / NEW ZEALAND DOLLAR (GBP/NZD) -0.16% 1.91158 Delayed Quote.-0.34%
BRITISH POUND / SWISS FRANC (GBP/CHF) 0.30% 1.1415 Delayed Quote.1.70%
BRITISH POUND / US DOLLAR (GBP/USD) -0.03% 1.24029 Delayed Quote.1.95%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) 0.51% 0.605235 Delayed Quote.-0.58%
EURO / BRITISH POUND (EUR/GBP) -0.26% 0.8776 Delayed Quote.-0.24%
FTSE 100 0.21% 7761.11 Delayed Quote.3.93%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.07% 0.009904 Delayed Quote.-0.58%
LEROY SEAFOOD -1.54% 57.55 Real-time Quote.5.98%
MOODY'S CORPORATION 0.79% 318.21 Delayed Quote.13.19%
MOWI ASA -0.54% 183 Real-time Quote.10.05%
S&P GSCI PETROLEUM INDEX 1.08% 317.3245 Real-time Quote.1.43%
SALMAR ASA 1.41% 461.4 Real-time Quote.18.24%
STOXX EUROPE 600(EUR)(TR) 0.42% 1049.64 Delayed Quote.6.46%
SWISSQUOTE GROUP HOLDING LTD 0.74% 164.1 Delayed Quote.22.02%
UK 10Y CASH -0.88% 3.3183 Delayed Quote.-10.59%
US DOLLAR / BRITISH POUND (USD/GBP) 0.06% 0.806257 Delayed Quote.-1.89%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.67% 69.6699 Delayed Quote.-3.54%
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Analyst Recommendations on LEROY SEAFOOD
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Financials
Sales 2022 26 796 M 2 705 M 2 705 M
Net income 2022 3 262 M 329 M 329 M
Net Debt 2022 5 043 M 509 M 509 M
P/E ratio 2022 10,5x
Yield 2022 4,60%
Capitalization 34 270 M 3 459 M 3 459 M
EV / Sales 2022 1,47x
EV / Sales 2023 1,44x
Nbr of Employees 6 000
Free-Float 47,2%
Chart LEROY SEAFOOD
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Technical analysis trends LEROY SEAFOOD
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 57,55 NOK
Average target price 60,57 NOK
Spread / Average Target 5,25%
EPS Revisions
Managers and Directors
Henning Kolbj°rn Beltestad Chief Executive Officer
Sjur Svenningsson Malm Chief Financial Officer
Arne M°gster Chairman
Didrik Oskar Munch Independent Director
Siri Lill Mannes Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LEROY SEAFOOD5.98%3 504
MOWI ASA10.05%9 578
SALMAR ASA18.24%6 643
THAI UNION GROUP-4.73%2 285
AUSTEVOLL SEAFOOD ASA8.65%1 952
NIPPON SUISAN KAISHA, LTD.-3.28%1 274