Danish shares close higher led by ALK Abello UPDATE

Danish shares close higher led by ALK Abello UPDATE

	Published : Tue, 03 Apr 2007 17:34 By : Agencies Print this Story

(updating with full report)

COPENHAGEN (AFX) - Danish shares closed higher led up by ALK Abello, dealers said.

The OMXC20 index closed 3.71 points higher at 469.40 and the OMXCB Benchmark index gained 3.98 points to 448.94.

The OMXC All Share index closed 3.91 points higher at 447.73 on turnover of 3.93 bln dkr.

ALK Abello was up 65.00 dkr at 1,100.00, as Jyske Bank analyst Frank Horning Andersen said ALK Abello's shares looked undervalued.

'There is a tremendous upside potential in ALK Abello, and I personally have a 'buy' recommendation on the stock,' Andersen said.

Furthermore, investors who have sold their stakes in Lundbeck, which extended previous losses to fall 2.00 dkr to 127.00, after last week's announcement that the group is discontinuing its development of insomnia treatment gaboxadol may now be buying other pharmaceutical stocks, Andersen added.

'If an investor sells Lundbeck and wants to stay in the pharmaceutical sector, ALK Abello would be a good choice,' said Andersen.

NKT Holding gained 17.50 dkr to 460.00.

Novo Nordisk added 8.00 dkr to 511.00 after the group said a new study confirms that its diabetes treatment Levemir limits weight gain in patients.

'Insulin initiation is often associated with considerable weight gain,' Professor Russell-Jones of the Royal Surrey County Hospital, UK said, according to Novo Nordisk.

'The reduced risk of weight gain that Levemir offers potentially provides people with diabetes an enhanced treatment option,' he added.

Copenhagen Airport was flat at 2,299 dkr. The group said it has appointed Brian Petersen, presently General Manager at Procter & Gamble in Guangzhou, China, new chief executive of the group.

AP Moller Maersk was up 400 dkr at 59,700. The Statesman Journal said the group might want to invest 250 mln usd (1.4 bln dkr) in a new container terminal in Oregon, US.

DS Torm was up 9.50 dkr at 395.00. According to Berlingske Business, analysts believe the group may use the proceeds from the divestment of its stake in DS Norden to acquire US shipping transport group OMI.

Codan gained 10.00 dkr to 538.00 on continued speculation British group Royal & Sun, which owns 72 pct in the group, may place a bid for all of its shares, dealers said.

Among other shares, Novozymes was up 13.00 dkr at 504.00, Vestas Wind Systems added 6.00 dkr to 316.00 and Bang & Olufsen gained 27.00 dkr to 702.00.

gustav.sandstrom@thomson.com

gs/amb/cml

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited