Børsens News Service in English
Banks’ Momentum Boosts C20
27-07-2010
18:07
Last week’s encouraging financials and the feel-good factor provided by the EU’s stress tests contributed to the major Danish banks retaining their buoyant mood today. Dansk Bank, Sydbank, Nordea and Jyske Bank all saw their share values rise, as the C20 index of Denmark’s twenty most traded shares closed 0.4 per cent up at 413.95. Danske Bank's shares performed best, closing up 4.2 percent at 133.7. Sydbank, Jyske Bank and Nordea’s shares all rose by around three percent.
The positive atmosphere was due in part to better-than-expected results from European banking giants UBS and Deutsche Bank. In addition, the Danish financial sector broadly welcomed the news that the Basel Committee on Banking Supervision was delaying until 2018 aspects of a hotly debated new liquidity requirement for banks. The implementation of a tougher regime could have spelled the end of Denmark’s popular adjustable rate loan and thus had a major disruptive effect on the nation’s credit markets
The day’s losers included multinational pharma Novo Nordisk and shipping and container giant A.P. Møller-Mærsk
The positive atmosphere was due in part to better-than-expected results from European banking giants UBS and Deutsche Bank. In addition, the Danish financial sector broadly welcomed the news that the Basel Committee on Banking Supervision was delaying until 2018 aspects of a hotly debated new liquidity requirement for banks. The implementation of a tougher regime could have spelled the end of Denmark’s popular adjustable rate loan and thus had a major disruptive effect on the nation’s credit markets
The day’s losers included multinational pharma Novo Nordisk and shipping and container giant A.P. Møller-Mærsk
*****||*****Banks’ Momentum Boosts C20 *****||*****Last week’s encouraging financials and the feel-good factor provided by the EU’s stress tests contributed to the major Danish banks retaining their buoyant mood today. Dansk Bank, Sydbank, Nordea and Jyske Bank all saw their share values rise, as the C20 index of Denmark’s twenty most traded shares closed 0.4 per cent up at 413.95. Danske Bank's shares performed best, closing up 4.2 percent at 133.7. Sydbank, Jyske Bank and Nordea’s shares all rose by around three percent.*****||*****
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