Stocks still adjusting after Brexit – The Post

Stocks still adjusting after Brexit

Denmark’s stock market suffer from a Brexit hangover

Brexit has sent Danish stocks on a tumble (Photo: iStock)
June 27th, 2016 12:12 pm| by Andreas Jakobsen

Danish stocks fell by 4 percent after the news of Brexit broke on Friday, and following the weekend the shares are continuing to slide, according to Finans.dk.

The OMX Copenhagen 20, the index of Denmark’s 20 most-traded shares, fell by 1.3 percent. Only TDC was left unharmed, edging up a mere 0.2 percent.

Nordea suffered the biggest hit, falling another 3.75 percent, which follows on from an overall decline of 28 percent this year – the largest of any Danish company in 2016.

Other companies – including the likes of AP Møller – Maersk, William Demant, Novozymes and Jyske Bank – are also struggling to get back on their feet.

In total, the C20 index has lost more than 6 percent of its value. It’s not good, but it’s still better off than elsewhere, as the Stoxx 600 (600 companies from 18 European countries) has fallen by 12 percent.