C20 Cap-Index in record jump

All 20 companies on the index increased

It was the largest one-day jump since the index opened in 2011 (photo: iStock) It was the largest one-day jump since the index opened in 2011 (photo: iStock)
February 16th, 2016 8:30 am| by Christian W
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A week after the Danish C20 Cap-Index recorded its largest ever one-day fall, it came roaring back yesterday with a record increase.

Maersk led the way on a day when all 20 companies on the index rose, eventually closing up 5.1 percent for the day – the largest one-day jump since the new index opened in 2011.

“Last week was very volatile, but we saw a turning point in the USA last Friday, where we saw better than expected retail sales,” Mikkel Duus-Hansen, an analyst at Spar Nord bank, told DR Nyheder.

“It gives us hope that the US economy isn’t doing that badly now and that there is momentum in private consumption.”

READ MORE: C20 Cap-Index in historic tumble

China and oil
Duus-Hansen went on to contend that the historic rise was also helped along by good news in China and a little more optimism in the oil industry.

 

C20 Cap-Index


The C20 Cap-Index should not be confused with the C20 Index, which it has superseded in recent years since opening in 2011.

According to the membership rules of the Cap-Index, no one company can have a stock value that is equal to more than 20 percent of the index.

On the C20 Index for example, Novo Nordisk has had a weighting of around 45 percent.