Danish shares lower in late morning tracking Wall Street |
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Tue, 28 Aug 2007 10:38
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COPENHAGEN (Thomson Financial) - Shares were lower in late morning trade following overnight falls on Wall Street.At 11.15 am, the OMXC20 index was down 1.17 pct at 490.90 and the OMXCB Benchmark index shed 1.03 pct to 470.67.Topdanmark was down 0.22 pct at 926.00 ahead of its second quarter report due to be published around noon.AP Moller Maersk fell 1.41 pct to 69,900 ahead of tomorrow's half year report.Jyske Bank reiterated its are duce' rating for the group, saying its own forecast for AP Moller's earnings in 2008-09 is 6 pct below market consensus due to its more conservative stance on the container market development.Royal Unibrew shed 0.61 pct to 649.00. The group posted a second quarter EBIT of 98.9 mln dkr, up 3 pct from a year earlier on the back of stronger sales, while pretax profit was down 0.4 mln dkr at 96.6 mln dkr.The brewer lifted its full year pretax profit guidance to 365-385 mln dkr from 330-370 mln dkr, but said 100 mln dkr of the full year pretax is expected to stem from non-recurring income from the divestment of a property.Carlsberg was flat at 713.00. Baltika Brewery, which is partly owned by the Danish brewer, proposed a share buyback programme of up to 9.9 mln ordinary shares and 1.2 mln preferred shares to a total value of around 14 bln rubles.Lifecycle Pharma shed 0.99 pct to 50.00. Morgan Stanley cut its target price for the pharmaceutical company to 68 dkr from 71 dkr, and reiterated its 'overweight' recommendation for the share.gustav.sandstrom@thomson.comgs/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.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.
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Amsterdam shares close lower, tracking Wall Street; DSM carries the day 