Over the past two weeks, changing tariff announcements from US President Donald Trump have boosted global stock markets, which have been oscillating back and forth. The major fluctuations have also hit the domestic stock market. Shortly after 9:30 a.m., the Danish C25 index is up two percent. If the increase holds until closing at 5 p.m., it will be the third consecutive gain.
At the top of the index are companies such as GN Store Nord, Zealand Pharma, Rockwool and Novo Nordisk - all with increases of more than three percent. At the bottom are ISS and Tryg. There has been a similar reaction across the European stock markets.
The British FTSE 100 index is up 1.6 percent - while the German DAX index is up two percent. In Sweden, the leading index is up 1.8 percent. The changing messages from Trump have - together with an escalating tariff war with China - increased fears of a recession, and this initially drove prices far down. A recession describes a period of economic decline.
On Wednesday last week, the president announced that he was partially putting his tariff plans on hold for 90 days. 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. The following day, the Danish C25 index followed suit with its largest increase ever. That is, since 2017, when the index was composed of the 25 most traded shares on the Copenhagen Stock Exchange measured by turnover.
Despite the increases in recent days, many Danish elite shares still appear to have lost some of their value since the turn of the year. The C25 index is down by over 14 percent. Throughout that period, the pharmaceutical companies Zealand Pharma and Novo Nordisk, as well as GN Store Nord, have fared the worst.
Zealand Pharma has lost almost 40 percent of its market value since the new year, while the other two are down around 28 percent. Conversely, Carlsberg has fared the best, rising almost 27 percent.
jel /ritzau/
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