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Copenhagen Stock Exchange: The Equity Turnover In October Increased Compared To September

Date 08/11/2001

After the steep fall in share prices during September, the prices recovered in October. Accordingly most of the KFX shares gained during October.

The total equity turnover amounted to DKK 34,4 billion, approximately 2 billion higher than in September. The daily average turnover amounted to DKK 1.5 billion, a decrease of 8 per cent compared to September. This was due to the fact that there were 3 trading days more in October.

The KFX shares were traded to an amount of DKK 28.0 billion, which corresponds to 81 per cent of the total turnover.

Novo Nordisk was September's most frequently traded share reaching DKK 4.6 billion. Second was TDC with DKK 4.4 billion just ahead of Danske Bank with nearly DKK 4.4 billion.

Among the unit trusts, Carnegie W.W achieved the highest turnover of DKK 252 million followed by Danske Inv. Stabil with DKK 214 million, Uni-invest with DKK 130 million and Alfred Berg Danmark with DKK 125 million. These four largest unit trusts accounted for 28 per cent of the total turnover for unit trusts.

The KFX Index rose by 2.6 per cent during October, but since October 2000 the index has fallen by 22.9 per cent. By the end of October the KVX Index was at 356,8 - an 0.6 per cent increase from the beginning of the month. In comparison with end October 2000 this was a fall of 62.5 per cent.

The bond market peaked in October with a turnover of DKK 619 billion, an increase of 39 per cent compared to September. This is the largest turnover since August 1999. The most frequently traded bond was the government 6% 2011 with DKK 53.4 billion followed by 6% 2003 with half that amount at DKK 23.7 billion.

The average interest rate fell further 15 basis point during the month ending at 5.35 per cent by end October - the lowest level this year. The interest rate on government bonds also fell during October from 4.43 per cent by the beginning of the month to 4.11 per cent by the end of October. The interest rate on standard mortgage credit bonds rose by 3 basis points to 6.19 per cent.