Danish shares flat midmorning, Carlsberg higher |
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Tue, 30 Oct 2007 10:38
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COPENHAGEN (Thomson Financial) - Shares were largely flat midmorning, but Carlsberg AS was slightly higher on continuing speculation about its bid for Scottish & Newcastle and following a target price hike at Citigroup.At 10.20 am, the OMXC20 index was down 0.04 points at 499.62 and the OMXCB Benchmark index had gained 0.08 points to 479.23.Carlsberg, which recently bid for UK peer Scottish & Newcastle (S&N), was up 6.00 dkr at 694.00 after Citigroup raised its target price for the brewer to 740 dkr from 610 dkr.Elsewhere, ING said the Carlsberg shares lack upside, and that the group risks paying more for S&N or see itself lose Baltic Beverage Holdings (BBH), the two brewers' Russian joint venture.The Financial Times, citing unnamed sources, said S&N is considering teaming up with a partner to buy out Carlsberg's BBH stake.Danske Bank AS added 1.00 dkr to 216.00 ahead of its third quarter report later today.Analysts polled by SME Direkt expect the bank to post a pretax profit of 4.536 bln dkr, on net interest income of 6.229 bln dkr.Genmab AS, which posts third-quarter results after the market closes today, was down 2.50 dkr at 352.00.Novo Nordisk AS shed 2.00 dkr to 609.00 and DSV AS was flat at 136.00. Both groups post third quarter results tomorrow.Novozymes AS fell 4.00 dkr to 559.00, extending earlier losses following last week's slightly weaker-than-expected nine-month report.Bang & Olufsen AS shed 7.00 dkr to 603.00. The Jyllandsposten daily said the home electronics maker faces a lawsuit from retailers in Chicago who claim, among others, the Danish company did not provide enough sales materials.gustav.sandstrom@thomson.comgs/wjCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Danish shares slightly higher in quiet midmorning trade led by Vestas 