The Danish C25 stock index rose 9.4 percent on Thursday, a quarter of a mile after the stock exchange opened, which means that it is on track for its best trading day ever. The previous closing record from March 2020 is 4.1 percent. 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.
Things look best for companies such as Rockwool, GN Store Nord, DSV, Zealand Pharma and Pandora, which rose between 13 and 16 percent. The significant increase comes after US President Donald Trump chose to partially put his tariff plans on hold on Wednesday. His tariff announcements have - together with the US's escalating trade war with China - increased fears of a recession. This has driven prices down considerably.
But on Thursday, Danish shares appear to be recovering a very large part of what was lost. All 25 shares in the index, which also includes companies such as Maersk, Novo Nordisk, Vestas and Danske Bank, are rising. Companies such as logistics company DSV and shipping company Maersk have been hit hard in recent days because a recession could potentially cause global trade to fall. This would mean that there would be fewer goods to ship.
Maersk rises more than 12 percent on Thursday.
jel /ritzau/
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