Reports of a Middle East peace plan have had a positive impact on the Danish stock market on Wednesday morning. After half an hour of trading, the Danish C25 index rose by 1.5 percent.
The index is composed of the 25 most traded shares on the Copenhagen Stock Exchange. All 25 shares rose on Wednesday morning. At the top are NKT, Novonesis and Vestas, which are up between 3.2 and 3.4 percent. The only ones in the red are Maersk's A and B shares and Pandora's shares, which all have modest declines of less than 0.2 percent.
On Tuesday evening, it was announced that the United States has sent a 15-point plan to Iran to end the war. This was reported by two unnamed officials with knowledge of the political process to The New York Times. Neither Iran nor the US has yet confirmed that an American peace plan has been sent to Iran.
Ahead of the opening of the Danish stock market, the news also sent Asian stocks soaring. This is according to commodities analyst Peter-Emil Holbøll from Jyske Bank.
- Although concrete progress has not yet been confirmed, the signals are seen as a step in the right direction, he writes in a comment according to the media outlet MarketWire.
At the same time, the price of a barrel of Brent oil has fallen by almost six percent to around $98. The price of the benchmark Brent oil is used as a global benchmark for oil prices.
Since the end of February, when the US and Israel launched attacks on Iran, oil prices have skyrocketed. Iran has, among other things, closed the important Strait of Hormuz, through which about 20 percent of the world's oil is transported.
And then attacks on important energy infrastructure have caused countries in the Middle East to temporarily limit oil production.
The higher oil prices have had a negative impact on the stock markets. The Danish C25 index, for example, has fallen by almost six percent since the attacks began. When stocks fall, it is because companies' earnings may be affected if energy prices rise.
/ritzau/
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