Stocks listed in Denmark finished the trading day lower on Wednesday, with broad-based weakness centered in the Personal & Household Goods, Technology and Oil & Gas sectors. By the close in Copenhagen, the OMX Copenhagen 20 had retreated 1.18%.
The session saw a mix of individual winners and losers. Leading the gainers on the OMX Copenhagen 20 was DSV Panalpina A/S (CSE:DSV), which advanced 2.26% - a rise of 42.00 points - to finish at 1,902.50. FLSmidth & Co. (CSE:FLS) added 1.83%, up 11.00 points to close at 611.00, and NKT Holding (CSE:NKT) climbed 1.45%, or 12.00 points, to end the day at 842.00.
On the downside, Pandora A/S (CSE:PNDORA) registered the largest slide, falling 3.82% or 21.20 points to close at 534.40. Zealand Pharma A/S (CSE:ZELA) fell 3.77%, a decline of 15.80 points to 403.40, while Genmab (CSE:GMAB) dropped 2.92%, or 56.50 points, to finish at 1,881.50.
Declining issues outpaced advancing ones by a wide margin on the Copenhagen Stock Exchange: 86 stocks fell versus 33 that rose, with 16 ending the day unchanged.
Several industrials posted fresh record levels during the session. Shares of DSV Panalpina A/S rose to all time highs, increasing 2.26% or 42.00 points to 1,902.50. FLSmidth & Co. also reached all time highs after gaining 1.83% or 11.00 points to 611.00, and NKT Holding rose to an all time high as well, up 1.45% or 12.00 points to 842.00.
Commodity markets showed strength during the same period. Crude oil for March delivery increased 1.97% or 1.26 to trade at $65.22 a barrel. Brent oil for April delivery rose 1.82% or 1.25 to $70.05 a barrel, while the April Gold Futures contract was higher by 1.37% or 69.05, trading at $5,100.05 a troy ounce.
In foreign exchange and money markets, USD/DKK was up 0.19% to 6.29, and EUR/DKK was essentially unchanged, moving 0.01% to 7.47. The US Dollar Index Futures was up 0.12% at 96.79.
Market context
- Index performance - OMX Copenhagen 20 closed down 1.18%.
- Leading sector pressure - Personal & Household Goods, Technology and Oil & Gas drove most of the losses.
- Breadth - 86 decliners, 33 advancers, 16 unchanged on the Copenhagen exchange.
Investors and market observers should note the divergence between select industrial names achieving record prices and the wider market weakness concentrated in consumer, tech and energy-related names.