Danish stock index sets single-day increase record

Danish stock index sets single-day increase record
File photo: Liselotte Sabroe/Ritzau Scanpix
Monday was a record day for the leading Danish stock index C25.
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.