Danske nerves prompt Danish drop

20 November 2007

After Danish shares have dropped, brokers are blaming nerves after continued credit concerns, led by Danske Bank AS.

Although Danish shares made gains to begin with, the OMXC20 index was down 3.15 points and the OMXCB Benchmark index dropped 4.13 points by midmorning.

At the close of play, the OMXC20 index closed 14.93 points lower and the OMXCB Benchmark index closed 12.17 points lower.

Meanwhile the OMXC All Share index closed 12.98 points lower with a turnover of nearly $1 billion.

It seems that nervous sentiment was enough for shares to take a dive, as brokers confirmed that there could be no other major reason for the drop and no real concrete cause.

They believed that worries about coming profit warnings from large banks and other companies could also have driven down shares.

Shares in Danske Bank AS itself fell by $0.55 to $40.20.

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