The Danish C25 stock index rose by around 1.2 percent after the stock exchange opened on Monday. Pharmaceutical companies such as Zealand Pharma and Novo Nordisk, as well as transport company DSV, are at the top of the index.
The rise comes after US President Donald Trump extended a tariff break for EU goods until July 9. The US and the EU are currently negotiating a trade agreement that will help set the tariffs on their goods.
On Friday, Trump said that the negotiations had reached an impasse and that he recommended a 50 percent tariff on EU goods from June 1.
However, after a telephone conversation with the President of the European Commission, Ursula von der Leyen, he apparently had second thoughts.
- I accepted the extension. It was my privilege to do so. The President of the Commission said that the negotiations will begin soon. Thank you for your attention to this matter!, Trump wrote on his social media, Truth Social, afterwards.
According to Henrik Olejasz Larsen, investment director at Sampension, Monday's tailwind is precisely due to Trump's announcement of a tariff break. The increases are also further evidence that the trade war continues to set the agenda and have a major impact on which direction the arrow points for stocks, he assesses.
- But even if the tariff break is now extended, the last chapter is far from being written in this affair yet, says the investment director in a written comment.
- Therefore, as an investor, you should prepare yourself for the possibility that there may also be greater fluctuations in the markets in the future in line with the development of the trade war.
For almost two months, changing tariff announcements from Donald Trump have caused global stock markets to surge back and forth. At the beginning of April, stock markets were hit by daily declines that are only very rarely seen. Since then, however, many stocks have recovered most of their losses.
/ritzau/
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