The Danish C25 stock index actually got off to a good start after the stock market opened on Friday with an increase of just over one percent. However, after a new Chinese response to increased tariffs from the US side, the index has taken a hit and is down 0.4 percent just before 10:30. The C25 is composed of the 25 most traded stocks on the Copenhagen Stock Exchange measured by turnover.
The most valuable companies make up the largest share of the index. So far, Ørsted and Novo Nordisk have had the best start to the day with increases of up to 3.5 percent. The global stock markets - and thus also the Danish one - have experienced price fluctuations in the past week that have not been seen for many years.
The fluctuations have been a result of the changing reports of increased tariffs from the US President, Donald Trump. This, together with the US's escalating trade war with China, has led to fears of a recession rising, and this initially drove prices far down. During the week, the Danish C25 index has been down to a level not seen lower since 2020.
On Wednesday evening Danish time, Trump announced that he was partially putting his tariff plans on hold for 90 days, and this created such relief in the markets that the US stock exchange on Wall Street in New York ended with the highest increases since 2008. A large number of leading stocks, including Tesla, Apple and Nvidia, rose by double-digit percentages.
At home, the effect became clearly visible on Thursday, when 23 out of 25 companies in the C25 index started a so-called extended opening auction due to extraordinary trading activity. The Danish index opened on Thursday with a total increase of 12.7 percent. - but during the day it lost some of its momentum and ended 4.6 percent higher than the day before.
Several economists have stated in the past week that they expect continued fluctuations in the coming period.
jel /ritzau/
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