Danish stocks on fire, OMX Copenhagen 20 down nearly 0.8%
Danish stocks ended Thursday in the red, as the Oil & Gas, Technology and Healthcare sectors all declined, dragging the benchmark OMX Copenhagen 20 down 0.77%.
Rare bright spots
Despite the general trend, some stocks maintained their upward momentum:
ISS A/S (CSE:ISS) rose strongly, rising 3.94% to 203.20, recording a five-year high.
Genmab (CSE:GMAB) also climbed to a 52-week high, closing at 1,821.50 (+2.97%).
Zealand Pharma (CSE:ZELA) added 1.73% to 430.20, continuing its positive trend.
High pressure from large-cap groups
On the other hand, some pillar stocks created significant pressure:
Vestas Wind Systems (CSE:VWS) lost 5.35%, falling to 117.60 - the sharpest decline in the index basket.
Coloplast (CSE:COLOb) retreated 2.41% to 615.20.
Jyske Bank (CSE:JYSK) fell 1.50% to 689.50.
Overall, 71 stocks declined, overwhelming 54 stocks advanced, showing a rather cautious market sentiment.
Commodities and currencies
October WTI crude oil futures lost 1.88% to $62.47/barrel.
November Brent crude oil fell 1.64% to $66.38/barrel.
Gold futures for December delivery edged down 0.20% to $3,674.52 an ounce.
In the foreign exchange market, USD/DKK fell 0.37% to 6.36, while EUR/DKK remained unchanged at 7.46. The US Dollar Index Futures also slipped 0.23% to 97.52.
Viewpoint
This correction reflects the risk-off sentiment in the Nordic markets, as energy prices and the outlook for the technology sector remain volatile. However, the strong gains in ISS and Genmab show that investment opportunities still exist in businesses with solid financial foundations and long-term growth prospects.