Þér hefk, þengill Mœra,
— þinns vegr mikill — segja,
(ert) svát eigi skortir,
(allfróðr) sǫgu góða.
Eigis Ívarr, bauga
— enn sitt kyrr hjá henni —
fægirjóðr, af Fljóðum
fingrmjór kominn hingat.
Þengill Mœra, hefk góða sǫgu segja þér, svát eigi skortir; vegr þinns mikill; ert allfróðr. Fægirjóðr bauga, eigis fingrmjór Ívarr af Fljóðum kominn hingat; sitt enn kyrr hjá henni.
Lord of the Mœrir [NORWEGIAN KING = Sigurðr], I have good tidings to tell you, so that there is no lack of it; your glory is great; you are most wise. Reddener of shields [WARRIOR], slender-fingered Ívarr af Fljóðum (‘from Fløan’) has not come here; continue to stay quietly with her.
[5, 7] fægirjóðr bauga ‘reddener of shields [WARRIOR]’: Lit. ‘a person who is occupied with reddening shields’ (in blood). Skj B and Skald emend to fægihrjóðr bauga ‘a person is occupied with destroying or dispensing rings’, i.e. ‘generous man’ (see also LP: fægirjóðr). The first element of the cpd is derived from the weak verb fægja ‘perform, be occupied with sth.’ (see LP: fægja). Baugr ‘ring’ was the boss of a shield, here used pars pro toto for ‘shield’ (see Falk 1914, 140-1).