The Benchmark sharing index of Denmark has fallen by 21% compared to the High September, making it the first major European index to be a bear market as a rate-related risks and a slump for Novo Nordisk a/s Weeg.
The OMXC25 index closed 2.4% on Thursday and slid alongside other large European benchmarks, after US President Donald Trump had announced radical global rates. Shares in logistics company DSV a/s and jewelry maker Pandora a/s were the largest treaty on the benchmark.
A slide of 25% for index heavyweight Novo Nordisk a/s has also put pressure on the meter this year, with the medicine maker injured by disappointing regulations for its obesity medicines and setbacks for medicines.
“Denmark is a small open economy. When globalization is good, it is good for Denmark – and vice versa,” said Per Hansen, investment economist at Nordnet AB, and noted that almost one fifth of exports to the US. The decrease in NOVO is also important, especially since Danish shares had been “richly appreciated,” he added.
Novo shares have just been closed their worst month in more than two decades. Together with poor regulations trends in the US, the drug maker reported disappointing data from a test for his weight loss of Monlunabant last year, followed by results for a separate experimental shot called Cagrisema that missed his own expectations.
Other major drags on the index this year include wind power and renewable stable companies Vestas Wind Systems a/s and Orsted AS ..
“OMXC25 is dominated by Life Science together with green transition. For these sectors there have been bumps along the road,” added Nordnet’s Hansen.
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