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.