Denmark's equity market closed notably lower on Wednesday as sector-wide weakness pushed the benchmark down to a new one-month low. The OMX Copenhagen 20 fell 6.66% at the close in Copenhagen, with Healthcare, Technology and Oil & Gas among the heaviest laggards.
Among the constituents, Rockwool AS B (CSE:ROCKb) was the session's strongest performer on the index, climbing 6.71% - an increase of 14.00 points - to finish at 229.00. Carlsberg A/S B (CSE:CARLb) also advanced, adding 4.48% or 39.60 points to end the day at 922.60. DSV Panalpina A/S (CSE:DSV) rose 3.61% - a gain of 64.50 points - to close at 1,851.00, and that move took shares of DSV Panalpina to an all-time high during the session.
At the other end of the index, Novo Nordisk A/S Class B (CSE:NOVOb) recorded a steep decline of 17.17%, falling 63.20 points to close at 304.70. Genmab (CSE:GMAB) dropped 4.29% or 90.00 points to 2,007.00, while NKT Holding (CSE:NKT) lost 3.33% - 28.00 points - to finish at 813.00.
Market breadth was negative on the Copenhagen exchange, with 84 stocks falling compared with 40 advancers; 16 issues ended unchanged.
Market context and commodities
Commodity prices moved modestly: crude oil for March delivery rose 0.05% or 0.03 to trade at $63.24 a barrel. Brent crude for April delivery increased 0.24% or 0.16 to $67.49 a barrel. Gold futures for April also ticked higher, up 0.24% or 11.74 to trade at 4,946.74 per troy ounce.
In foreign exchange markets, the US dollar strengthened against the Danish krone, with USD/DKK up 0.18% to 6.33. EUR/DKK was essentially unchanged, moving 0.01% to 7.47. The US Dollar Index Futures rose 0.26%, trading at 97.55.
What this means for sectors
The session’s largest declines centered on Healthcare and Technology, which weighed on headline performance, while pockets of strength emerged in industrials and consumer-facing names represented by the climb in Rockwool, Carlsberg and DSV. The oil and gas sector also featured among the sectors noted as contributing to the overall downward pressure.
Notable single-stock movements
DSV Panalpina's move to an all-time high is a standout on an otherwise weak trading day for the index. Conversely, the substantial drop in Novo Nordisk's Class B shares was the largest single-stock detractor from the index’s performance.
Data points in this report reflect closing prices and session moves reported for the Copenhagen bourse and related commodity and currency instruments.