Denmark's equity market finished lower on Thursday, with selling pressure concentrated in the Chemicals, Financials and Oil & Gas sectors and pulling the benchmark down. At the close in Copenhagen, the OMX Copenhagen 20 fell 2.23%, settling at a level identified as a new five-year low.
Market breadth was heavily tilted toward decliners. On the Copenhagen exchange, 104 stocks fell versus 17 that advanced, while 17 issues finished unchanged.
Top performers
- Pandora A/S (CSE:PNDORA) was the strongest member of the OMXC20, rising 0.96% or 4.20 points to close at 440.10.
- Zealand Pharma A/S (CSE:ZELA) ended the session down 0.29% or 0.80 points at 279.70.
- Demant A/S (CSE:DEMANT) slipped 0.39% or 0.70 points to finish at 180.90.
Lagging issues
- Rockwool AS B (CSE:ROCKb) led declines, dropping 6.83% or 13.00 points to 171.00 at the close; the share price also reached 52-week lows.
- FLSmidth & Co. (CSE:FLS) declined 6.57% or 32.60 points to end at 463.40.
- Carlsberg A/S B (CSE:CARLb) fell 4.75% or 40.20 points to 806.40.
Commodities and FX
Commodity markets showed marked moves during the session. Crude oil for May delivery rose 2.45% or 2.34, finishing at $97.80 a barrel. Brent oil for May delivery gained 3.07% or 3.30 to trade at $110.68 a barrel. By contrast, the April Gold Futures contract fell 6.14% or 300.50, settling at $4,595.70 a troy ounce.
In currency markets, USD/DKK fell 0.71% to 6.48, while EUR/DKK was essentially unchanged, moving 0.01% to 7.47. The US Dollar Index Futures was lower by 0.47% at 99.40.
Context and closing note
The session left the OMX Copenhagen 20 at its lowest recorded closing level over the past five years, with notable weakness across Chemicals, Financials and Oil & Gas names. A handful of stocks outperformed, but the day was dominated by broad declines and pronounced moves in commodity and currency markets.