950825

Danish shares

lose stream

on profit-talking

COPENHAGEN: Danish shares lost steam on profit-taking, ending marginally up after slipping back from earlier highs as profit-taking set in, with dealers foreseeing the market staying at around much the same level next week.

The top-20 KFX index closed 0.10 point higher at 104.72, after rising earlier in the day to over 105, with the KFX September future down 0.20 point at 104.65, with 2,111 contracts each worth 100,000 crowns traded.

Total turnover was at 742 million crowns for the day.

"We couldn't keep the high gains up seemingly, with shares winded in afternoon profit-taking," one dealer observed.

East Asiatic suffered from poor half-year results from its Hong Kong subsidiary, closing nine crowns lower at 163. In contrast banks pushed on, with Den Danske finishing one crown higher at 379 and rival Unibank three up at 265.

Novo and Sophus Berendsen continued to climb, both ending the day three crowns better off at 677 and 585 respectively.

Sophus, due to unveil its first-six month result next Tuesday, is tipped by analysts to more than double pre-tax profits.-Reuter