Danish shares marginally lower in midmorning led down by Carlsberg

Danish shares marginally lower in midmorning led down by Carlsberg

	Published : Thu, 26 Jul 2007 10:11 By : Agencies Print this Story

COPENHAGEN (Thomson Financial) - Shares were marginally lower in midmorning trade, led down by Carlsberg.

At 10.50 am, the OMXC20 index was down 0.69 points at 508.30 and the OMXCB Benchmark index shed 0.16 points to 486.76.

Carlsberg was down 9.00 dkr at 725.00 following limited share price gains yesterday.

AP Moller Maersk shed 400 dkr to 73,200. The transport group's Japanese peers K-Line and NYK reported improving freight rates in their quarterly reports.

Carnegie said this was good news for AP Moller, but reiterated its 'neutral' rating for group.

Citing analyst Steven Brooker at SEB Enskilda, Daily Boersen said that it would make sense for AP Moller to sell its stake in airline operator Martinair to Dutch company KLM.

AP Moller Maersk and KLM are in talks over the deal, which may however be blocked by the EU on competition grounds, Boersen added.

Bavarian Nordic shed 0.50 dkr to 462.50. The pharmaceutical company said it has settled its ongoing legal disputes with British peer Acambis over patents related to its smallpox vaccine.

Coloplast gained 5.00 dkr to 472.00. Nordea said the health care group has good growth prospects and a low share price compared to the rest of its sector.

Jyske Bank shed 0.50 dkr to 431.50. Fionia Bank reiterated its 'sell' recommendation for the group following its half year report Tuesday, saying its share is expensive compared to Danish peers and adding its net interest income growth seems to be declining.

Danske Bank was down 0.25 dkr at 236.50. Boersen said the bank is still the biggest broker on the Danish stock market, but only number ten on the Nordic market after losing market shares.

Among other shares, FL Smidth gained 4.00 dkr to 488.50, Lundbeck was up 2.00 dkr at 142.00 and Novozymes fell 6.00 dkr to 670.00.

gustav.sandstrom@thomson.com

gs/ejp

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