C20 Back in Positive Territory

09-08-2010 18:20 The Danish stock market posted another encouraging rise today, bolstered by the fact that the U.S. market turned around Friday after the European markets had closed.

This positive mood came despite the fact that Friday's disappointing US jobs figures, which initially caused the US market to slump last week, did not look any better after the weekend break.

The C20 index closed up 1.4 percent at 425.5 on the back of moderate rises from most of Denmark’s 20 most popular shares. The day’s best performing share, Carlsberg, rose just 2.5 percent to 501. The brewing giant made up for some of the 5.1 percent Friday its shares lost on Friday as a result of souring grain prices.

Another of the day’s winners was Danske Banke, which releases its half yearly report tomorrow. Denmark’s biggest bank saw its shares rise by 2.0 percent to 140.60.

Vestas also had a good day, posting an increase of 1.9 percent.  The wind power company’s shares stood at 304 at the close of Monday’s trading. The only share posting a loss was insurance provider Tryg.

"Today’s rises were prompted by Friday’s reversal in the U.S. market, which occurred after Europe closed”, Sydbank’s Head of Scandinavian Share Trading Ole Kjær Jensen told the news agency Direkt. “Buyers also returned on talk of possible stimuli from the Federal Reserve’s interest rate meeting on Tuesday”.