Following the death of 1 million fish at a Faroese storm this weekend, market analyst Fearnley Securities has dropped salmon farmer Bakkafrost's forecast earnings for the year by 13-16%, it said.

The company reported that the fish had been killed during a four-day storm that significantly damaged two of its farming sites. At site A15, a "significant groundswell" over five days killed the fish, while site A25 saw equipment "overstressed" by the storm, leading to mortality in those cages. All fish and equipment were insured, Bakkafrost said [...]