Danish stock index sets single-day increase record

Monday was a record day for the leading Danish stock index C25.

Danish stock index sets single-day increase record
File photo: Liselotte Sabroe/Ritzau Scanpix
Investors put so much money into Danish shares that the C25 rose a record 2.4 percent. That’s the biggest single-day increase since the index was created nearly two years ago. 
The record single-day increase came just one week after the C25 fell by a record five percent. 
According to Otto Friedrichsen, the head of equity at investment management firm Formuepleje, investors should be wary of drawing too many conclusions from Monday’s performance. 
“I don’t think you should put too much into the fact that it increased so strongly. I think you should see it as an effect of the volatility we’ve seen over a longer period,” he said. 
“We are now seeing the market correct itself,” he continued. “There is an increased appetite for risk today compared to earlier.” 
The biotech firm Genmab was Monday’s best-performing single stock, rising nearly six percent during the course of the day. A.P Møller Mærsk’s B stock also rose by five percent. Of the 25 elite stocks on the index, only Royal Unibrew ended Monday worth less than it started. It fell 0.5 percent and was Monday’s only negative result. 
The C25 was created in December 2016, replacing the C20 Cap Index. 


‘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.