Danish Stocks on the Rise

[Lagirl]

This article was in The Copenhagen Post (Danish news in English)

http://www.cphpost.dk/

Danish stocks progress in 2003
31-12-2003

Stocks on Copenhagen Stock Exchange's top-20 KFX share index ended the year a bullish 22.5 percent up

The KFX index, comprising the exchange's 20 most important shares, closed a whisker down on Tuesday, the last day of trading of the year, dipping 0.16 percent to end at 244.34, a 22.5 percent rise compared to end-December last year.

Although better than the London FTSE's meagre 13 percent year-on-year climb, Copenhagen's performance was outshone by bourses in neighbouring Norway and Sweden which ended the year 42 and 29 percent up respectively.

The rise in the KFX index was largely due to major gains for the Danish stock market's main paper, shipping and oil group Møller-Maersk, which saw 80 percent rises in the course of the year. Communications firm GN Store Nord was the other other major winner, its shares putting on 85 percent in value during 2003, while the dunce of the class was medical concern Lundbeck, whose stocks shed 47 percent in value.

Bonds ended the year more or less static compared to end-December 2002, despite a year of major fluctuation. The benchmark 10-year, five percent 2013 Danish state bond closed 0.30 point lower at 104.20 with the yield at 4.46 percent.