Danish shares slightly lower midmorning led by AP Moller Maersk

Danish shares slightly lower midmorning led by AP Moller Maersk

	Published : Thu, 29 Nov 2007 10:13 By : Agencies Print this Story

COPENHAGEN (Thomson Financial) - Shares were slightly lower midmorning, led down by index-heavy AP Moller Maersk AS, which was lower ahead of its quarterly trading update due out later today.

At 10.15 am, the OMXC20 index was down 1.67 points at 465.30 and the OMXCB Benchmark index gained 0.72 points to 444.28.

AP Moller Maersk was down 1,400 dkr at 60,000, with some nervousness among investors ahead of the transport group's trading statement for the third quarter.

DS Norden AS shed 4.00 dkr to 556.00, reversing initial gains, after it posted a third-quarter pretax profit of 199 mln usd, up from 21 mln usd a year earlier helped by sharply higher dry cargo freight rates, and ahead of consensus estimates according to RB Boersen for 169 mln usd.

Sales came in at 779 mln usd, up from 317 mln usd a year earlier, and ahead of consensus estimates for 692 mln usd.

The shipping group reiterated its full year outlook announced on Nov 15 for a net profit of 670-700 mln usd.

DFDS AS, which posts third-quarter results later today, was up 6.00 dkr at 788.00.

Bavarian Nordic AS added 4.00 dkr to 321.00 after it reported positive results from a phase II clinical trial of its smallpox vaccine Imvamune.

Lifecycle Pharma AS shed 0.20 dkr to 41.20. The company said it has initiated phase I clinical trials with the new drug candidate LCP-Siro.

gustav.sandstrom@thomson.com

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