Novo Keeps C20 in Positive Territory

05-08-2010 18:23 Gains by Danish pharmaceutical giant Novo Nordisk helped the Danish stock exchange achieve modest gains Thursday. At close of trading, the C20 index was up 0.26 percent at 424.84. Earlier, the index had touched its highest level since June 2008.

Novo’s shares closed up 1.30 percent at 507.50, after the company released a positive set of accounts. Earlier today, it had announced that operating profit increased by 19 percent in the first half of 2010, while sales increased by 14 percent in DKK and by 11 percent in local currencies. Net profit increased by 21 percent to DKK 6.87 billion.

As a result, Novo’s sales growth guidance for 2010 was increased to between nine and ten percent, while its operating profit guidance increased to between twelve and 15 percent.

The company is the C20’s best performer this year, and its shares have gained 62 percent in value over the past twelve months.

Shares in A.P. Moller-Maersk also rose Thursday. Positive Q2 figures from Asian carriers Orient Overseas and Hanjin Shipping implied a significant upturn in the container market, traders believed. Maersk’s “B” shares closed 0.97 percent up at 49,750, while the company’s “A” shares rose 1.33 percent to 48,690.

At the other end of the C20 index, shares in enzyme manufacturer Novozymes fell 3.25 percent to 729.50, while shares in transport company DSV fell 3.04 percent to 105.30.