Ørsted, Novo, Zealand were the biggest winners among the Danish elite stocks on Thursday, where Greenland and green stocks finally played together, after the US president on Wednesday evening in Davos called off the punitive tariffs against countries that do not support the president's wishes to annex the world's largest island.
On Thursday, the stock markets globally reacted with relief and pluses, and in Copenhagen the C25 index rose to 1930.92 or by 2.3 percent. compared to the closing level on Wednesday afternoon.
- For the Danish stocks it is really positive. They have taken a beating with what we can call the Greenland tariff. And we see that they are doing well today because Trump is backing down, says Jacob Pedersen, chief equity analyst at AL Sydbank to MarketWire.
- In my opinion, it can help risk appetite a little. Nervousness about whether the disputes between Europe and the US would reach new peak levels and whether alliances would be broken up - this has been a challenge for investors, says Jacob Pedersen.
Novo Nordisk rose to the top on Thursday with a plus of as much as 6.1 percent to DKK 396.70 after a drop of 4 percent on Wednesday. Zealand Pharma was also at the top of the C25 index with a plus of 5.9 percent to DKK 433.70 without company-specific news.
Ørsted can breathe a sigh of relief for now
Ørsted rose 4.9 percent to DKK 135.55, and this is not surprising to Jacob Pedersen, who has previously pointed to Ørsted as one of the companies that would be hit hardest by the Greenland duty.
- Ørsted and Bavarian were the biggest earnings headwinds, states Jacob Pedersen. And the reason is that the two companies - unlike most other large companies that have activities in the US - import their goods from Europe to the US. The others' goods come from Asia, the stock analyst points out, citing GN and Vestas as examples.
But it wasn't just Trump and tariffs that were affecting them. Ørsted also had its recommendation raised to "outperform" from "neutral" by the financial house Oddo BHF. According to the financial house's analyst Louis Boujard, there has been a notable change in Ørsted's economic, financial and strategic profile to the positive side. The price target has been raised by DKK 40 to DKK 170. In addition, the Spanish bank Santander has also raised its recommendation for the share to "neutral" from "underperform".
At the bottom of the C25 index, NKT lost 1.3 percent. to 777 kr. Perhaps influenced by NKT's recommendation being lowered to "hold" from "buy" at SEB Bank.
\\? MarketWire
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