Danish stocks suffer historic one-day drop
The Local Denmark - [email protected]
Published: 20 Aug, 2015 CET.
Updated: Thu 20 Aug 2015 21:52 CET
Thursday was a bad day for Danish blue chips, as the C20 Cap Index recorded its largest single-day fall since its creation in 2011.
The C20 Cap index fell by 3.23 percent on Thursday, marking the index’s worst day since it was established on November 25, 2011, Ritzau Finans reported.
Blue chip companies Vestas, Carlsberg, Genmab, FLSmidth and Pandora all fell dramatically.
According to Ritzau Finans, the poor performance could be chalked up to falling global commodity prices and Chinese economic woes.
“We are falling in line with Europe. It is likely due to the weakened Chinese market,” Martin Munk, a senior analyst at Jyske Bank, told Ritzau.
Other European markets fell between 0.4 and 2.1 percent on Thursday.
Wind turbine manufacturer Vestas was the biggest loser of the day, with a 7.6 percent fall, while Danish brewery giant Carlsberg’s 3.4 percent drop followed a 9.2 percent dip on Wednesday.
For the latest stock prices and currency rates, be sure to keep an eye on The Local’s Money Market.
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The C20 Cap index fell by 3.23 percent on Thursday, marking the index’s worst day since it was established on November 25, 2011, Ritzau Finans reported.
Blue chip companies Vestas, Carlsberg, Genmab, FLSmidth and Pandora all fell dramatically.
According to Ritzau Finans, the poor performance could be chalked up to falling global commodity prices and Chinese economic woes.
“We are falling in line with Europe. It is likely due to the weakened Chinese market,” Martin Munk, a senior analyst at Jyske Bank, told Ritzau.
Other European markets fell between 0.4 and 2.1 percent on Thursday.
Wind turbine manufacturer Vestas was the biggest loser of the day, with a 7.6 percent fall, while Danish brewery giant Carlsberg’s 3.4 percent drop followed a 9.2 percent dip on Wednesday.
For the latest stock prices and currency rates, be sure to keep an eye on The Local’s Money Market.
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