Børsens News Service in English
C20 Closes Down as Danske Bank Shares Slump
10-08-2010
19:00
Today's main topic of conversation on the Danish stock market was the slump in the fortunes of Danske Bank. Shares in the nation’s largest bank ended the day down 5.2 percent on the back of disappointing half-yearly financials. At one point, they were down over six percent before regaining some ground.
Earlier in the day Danske Bank had announced a net profit of DKK 1.7 billion for the first half of 2010 and DKK 937 million for the second quarter of the year. In the second quarter, trading revenue was a modest 2.8 billion, against DKK 4.9 billion in Q2 2009. While net interest income was virtually in line with analysts' expectations at DKK 5.9 billion, some traders had hoped to see higher profit figures.
"We must remember that Danske Bank’s share price increased in the days leading up the release of the figures” Bjorn Schwarz, Head of Equity Research at Sydbank, told the news agency Direkt. “They were accounts that were more or less in line with what investors had expected in advance, and investors were cashing in their chips today”.
Overall the C20 index fell by 1.2 percent. Only William Demant, Novo Nordisk and D / S Norden posted rises after a downbeat day’s trading
Earlier in the day Danske Bank had announced a net profit of DKK 1.7 billion for the first half of 2010 and DKK 937 million for the second quarter of the year. In the second quarter, trading revenue was a modest 2.8 billion, against DKK 4.9 billion in Q2 2009. While net interest income was virtually in line with analysts' expectations at DKK 5.9 billion, some traders had hoped to see higher profit figures.
"We must remember that Danske Bank’s share price increased in the days leading up the release of the figures” Bjorn Schwarz, Head of Equity Research at Sydbank, told the news agency Direkt. “They were accounts that were more or less in line with what investors had expected in advance, and investors were cashing in their chips today”.
Overall the C20 index fell by 1.2 percent. Only William Demant, Novo Nordisk and D / S Norden posted rises after a downbeat day’s trading
*****||*****C20 Closes Down as Danske Bank Shares Slump*****||*****Today's main topic of conversation on the Danish stock market was the slump in the fortunes of Danske Bank. Shares in the nation’s largest bank ended the day down 5.2 percent on the back of disappointing half-yearly financials. At one point, they were down over six percent before regaining some ground.*****||*****
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