Shares of Norwegian salmon farming companies on the Oslo Stock Exchange didn't react favorably to mid-day news that Canadian Prime Minister Justin Trudeau's Liberal Party platform includes a vow to transition all netpen salmon farms in British Columbia to closed-containment systems.
Shares of all major listed companies plunged as markets opened, with Grieg and Mowi -- the two listed companies with operations in British Columbia -- falling the sharpest.
Mowi's dip came early, hitting a low of NOK 204 (€20.40/$22.40) per share -- down 2.3 percent from its opening high. Grieg followed suit, with its shares reaching a low of NOK 107.80 (€10.80/$11.90) before recovering to a close of NOK 109.70 (€11/$12.10).
By the end of the day, Norway Royal Salmon, Salmar and Leroy had recovered, while Grieg and Mowi remained down by 1.35 percent and 1.33 percent, respectively.