SHARE
COPY LINK

STOCKS

Record day for elite Danish stocks

The Danish C20 Cap Index had a tremendous day on Monday, setting the record for the biggest single-day increase with all of the index’s 20 elite stocks rising in value.

Record day for elite Danish stocks
Photo: Jens Nørgaard Larsen/Scanpix
The C20 Cap Index closed at 925.25 on Monday, 5.1 percent higher than on Friday and thus the largest single-day jump since it was created in November 2011. The previous record was set just days ago, when the index rose four percent on February 13th.
 
Monday’s record performance was buoyed by A.P Møller Mærsk, whose B stock rose by 7.6 percent. Large financial institutions Jyske Bank and Dansk Bank increased by 6.6 and 6.3 percent respectively while Nordea saw a 4.8 percent increase. 
 
Mikke Duus-Hansen, an analyst at Spar Nord, told Ritzau that the C20 Cap’s banner day was a culmination of positive news from the US, China and small increases in the price of oil. 
 
“Last week was very volatile but on Friday we saw a turn in the US where there were better than expected retail sales numbers. That maybe gives one the hope that it isn’t going so badly in the American economy now that there is momentum in private consumption,” he said. 
 
Duus-Hansen added that stability in the Chinese economy has also helped to calm global markets after a tumultuous period.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

SAS

‘We agree to disagree’: Still no progress in marathon SAS strike talks

By lunchtime on Friday, talks between the Scandinavian airline SAS and unions representing striking pilots were still stuck on "difficult issues".

'We agree to disagree': Still no progress in marathon SAS strike talks

“We agree that we disagree,” Roger Klokset, from the Norwegian pilots’ union, said at lunchtime outside the headquarters of the Confederation of Swedish Enterprise in Stockholm, where talks are taking place. “We are still working to find a solution, and so long as there is still some point in continuing negotiations, we will do that.” 

Mats Ruland, a mediator for the Norwegian government, said that there were “still several difficult issues which need to be solved”. 

At 1pm on Friday, the two sides took a short break from the talks for lunch, after starting at 9am. On Thursday, they negotiated for 15 hours, breaking off at 1am on Friday morning. 

READ ALSO: What’s the latest on the SAS plane strike?

Marianne Hernæs, SAS’s negotiator on Friday told journalists she was tired after sitting at the negotiating table long into the night. 

“We need to find a model where we can meet in the middle and which can ensure that we pull in the income that we are dependent on,” she said. 

Klokset said that there was “a good atmosphere” in the talks, and that the unions were sticking together to represent their members.

“I think we’ve been extremely flexible so far. It’s ‘out of this world’,’ said Henrik Thyregod, with the Danish pilots’ union. 

“This could have been solved back in December if SAS had not made unreasonable demands on the pilots,” Klokset added. 

The strike, which is now in its 12th day, has cost SAS up to 130m kronor a day, with 2,550 flights cancelled by Thursday, affecting 270,000 passengers. 

SHOW COMMENTS