The Danish stock market is reacting with restraint to the unrest in the Middle East after the US and Israel attacked Iran.
The Danish C25 index fell by 0.6 percent on Monday morning, with 19 of the 25 elite stocks worth less than at the close of trading on Friday.
Rockwool and FLSmidth fell the most, with losses of 4.4 percent and 3.3 percent respectively, while A.P. Møller Mærsk shares rose by 4.4 percent.
Earlier in the day, Asian stocks fell by between one and two percent, and head of equity research Jacob Pedersen from Sydbank does not expect the unrest to cause greater stock market turmoil than what we have seen so far.
- In recent years, the stock market has reacted very mutedly to other acts of war. Oil price increases may boost earnings, but we do not expect any major earnings setbacks, he writes in a comment on the market situation.
Philip Jagd, head of equities at Sampension, predicts that further developments in the conflict may lead to more fluctuations in share prices.
- However, we know that geopolitical events, including wars in the Middle East, rarely leave long-term negative traces on the stock markets. On the contrary, initial declines can quickly reverse. Therefore, it is important that you as a private investor do not act rashly or too drastically, he says in a market comment.
/ritzau/
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