C20 Cap-Index in record jump

All 20 companies on the index increased

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.