Danish shares lower in midmorning trade, tracking Wall Street

Danish shares lower in midmorning trade, tracking Wall Street

	Published : Mon, 25 Jun 2007 10:10 By : Agencies Print this Story

COPENHAGEN (Thomson Financial) - Shares were lower in midmorning trade after Wall Street closed down Friday night on continued interest rate concerns.

At 10.40 am, the OMXC20 index was down 4.14 points at 476.74 and the OMXCB Benchmark index shed 4.66 points to 460.51.

Carlsberg shed 12.00 dkr to 643.00. The group's potential to raise capital and make acquisitions may decrease as chief executive Smedegaard Andersen leaves to take the helm at AP Moller in December, daily Boersen said citing analysts.

AP Moller Maersk was up 200 dkr at 65,900. Boersen said, citing unnamed sources, the group's Maersk Line unit might be sold if the new chief executive Smedegaard Andersen is not successful in increasing the division's profitability.

Novo Nordisk fell 7.00 dkr to 581.00. The group said at an American Diabetes Association meeting in Chicago that its GLP-1 analogue Liraglutide has been successful in treatment of type 2 diabetes in phase 2 trials.

The group also said a new study has proven its diabetes treatment Levemir to be effective.

Genmab was down 15.00 dkr at 353.00. Shares in the group have been downgraded to 'sell' at ING, RB Boersen news agency said.

Bavarian Nordic shed 8.00 dkr to 521.00. The group said it will appeal a decision by the Commercial Court in Vienna to dismiss a pending patent case against competitor Acambis.

DFDS was down 13.00 dkr at 700.00. The shipping company said it will extend its paper transport partnership with Norway's Norske Skog until December 2012 and expand the scope of the agreement to include a new shipping line from Norway to Ireland and Scotland.

Among other shares, Vestas Wind Systems fell 6.50 dkr to 357.50, DSV was down 1.75 dkr at 104.25 and ALK Abello gained 15.00 dkr to 1,125.00.

gustav.sandstrom@thomson.com

gs/jag

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