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Danish share prices fall amid global instability

A downturn for Denmark’s stock market continued at an unprecedented rate on Thursday morning, with the leading Danish stock index C25 falling by more than 1.5 percent.

Published: 11 October 2018 13:09 CEST

Danish share prices fall amid global instability

File photo: Liselotte Sabroe/Ritzau Scanpix

The fall represents the eighth consecutive day in which the Danish index has fallen, while the C25 is down by over 13 percent since the beginning of the year, Jyllands-Posten’s financial arm Finans reports.

Medical company Ambu and cleaning equipment producer Nilfisk are among those to suffer most under the most recent downturn, according to the report.

The British, German, Norwegian and Swedish markets also saw falls early on Thursday, Finans reports.

European markets appeared to be affected by falls in the American S&P 500, Nasdaq and Dow Jones indexes, which all fell by more than three percent on Wednesday in the worst day for the US stock exchange in eight months, according to the report.

That fall also spread to Asian markets on Thursday.

“The strong reactions seem to be a combination of concern over higher interest and political uncertainty over the relationship between the US and China as well as the Italian boxing match with the EU,” Andreas Østerheden, a senior strategist with the Nordea bank, told Finans via a written comment.

READ ALSO: Danske Bank shares fall again after new money laundering claims

'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.

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