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A new exchange in EXANTE terminal: OMX Copenhagen

A new exchange in EXANTE terminal: OMX Copenhagen

We have recently added one more market to our trading terminal — OMX Copenhagen (OMXC). Get to know more about its’ role, history, and the promising stocks traded there.

Role in the global economy

The Copenhagen Stock Exchange (OMXC) is considered relatively small for an international marketplace. There are about 300 companies listed on the exchange, with a total market cap of just over €200B.* But while it’s obviously not huge, in fact, both numbers turn out to be pretty high considering the size of the country, as the current population of Denmark is less than 6 million people. The Nasdaq Copenhagen is one of the Nasdaq Nordic exchanges, along with the stock markets of Sweden, Norway, Finland, Latvia, Estonia, Lithuania, Iceland, and Armenia.

In some communities, the group, established in 2003 upon a merger between OM AB and HEX plc, is still better known by its old name OMX AB (Aktiebolaget Optionsmäklarna/Helsinki Stock Exchange). In 2007 the consortium was absorbed by the Nasdaq Stock Market and then renamed. The total market cap of more than €1.6T* makes OMX Exchanges 15th largest stock market in the world, while its parent exchange NASDAQ OMX holds the second place with a market cap exceeding €10T.

The most of the companies listed at the OMXC are registered in Denmark and many of them are one way or another related to the maritime sector. One example is A.P. Moller–Maersk Group, best known for its global container division Maersk Sealand. But there are other globally recognized companies on the stock exchange, including jewelry maker Pandora and beer giant Carlsberg Group. Read a more detailed review below.

History

The first stock exchange in Copenhagen, known as Børsen, was one of the oldest in Europe and is sometimes reputed as a part of Shakespearean Denmark. In reality, however, it’s a bit closer to modernity: the exchange was founded in 1625 by King Christian IV, while the sources of Hamlet are believed to have been written between 1599 and 1601. The historic building is considered a perfect example of the Dutch Renaissance style in Denmark. It housed the Danish stock-market until 1974.

The historic building of the stock exchange in the center of Copenhagen from 1625 until 1974

Like most of the old exchanges, Børsen was different from modern stock markets in the sense that it still relied heavily on bartering, particularly when trading agricultural products. The exchange switched completely to trading securities only by 1808. In 1996, the exchange was converted to a limited company with 60% of share capital issued to its members.

In 2003, the Copenhagen Stock Exchange was acquired by OMX, the owner of the Stockholm Stock Exchange, and became known as OMX Copenhagen (OMXC). Then in 2007 the company merged with Nasdaq in a particularly complex transaction and was renamed the NASDAQ OMX Group (currently known as Nasdaq Nordic). Being formally a single legal entity, in practice, all exchanges in the group retain a great deal of autonomy, and many of them even have their own subsidiaries.

Since 2014, the Copenhagen Stock Exchange is officially called Nasdaq Copenhagen. We, however, will stick to OMXC, as this name is still widely referred to in stock market symbols.

Famous listings

The Kingdom of Denmark, despite being relatively small, boasts quite a few world-famous companies. We will look at three of them, all belonging to very different industries.

Møller–Mærsk Gruppen

  • Symbol: MAERSK-B
  • Market cap: $28B
  • Annual turnover: $25B

One of the world’s largest maritime companies and the largest container ship and supply vessel operator. The company was founded in 1904. By the beginning of World War II, it became the second largest shipping company in Denmark with a total of 46 ships, a half of which have been lost supporting American troops. Today Maersk operates a fleet of 387 container vessels and several dozen multi-purpose vessels (MPVs) and has subsidiaries and offices across 130 countries. The photo shows iconic Maersk containers.

Carlsberg

A brewery conglomerate engaged in producing and sales of beer and other beverage products in Western Europe, Eastern Europe, and Asia. The company, established in 1847, offers its products primarily under the Carlsberg, Kronenbourg, Somersby, Holsten, Tuborg, Lav, Lvivske, and Baltika brand names. Its main subsidiaries are located in Sweden (Carlsberg Sverige), Bulgaria (Carlsberg Bulgaria), Russia (Baltika Breweries), and Hong Kong (Carlsberg Brewery Hong Kong). The company is also engaged in real estate development and management. The photo features the bottles of the most popular Carlsberg beer.

Pandora

The company, founded in 1982, designs, manufactures and markets contemporary jewelry, including diamonds, gemstones, cultured pearls, man-made stones, silver and gold and other materials. The company, being headquartered in Copenhagen, has recently transferred the bulk of production to Thailand. The company operates in more than 90 countries through a network of 2,446 concept stores, including 974 company-owned stores and almost 6000 other points of sale. The photo shows the distinctive charm bracelet designed by Pandora.

For your consideration

In addition to the companies listed above, the OMXC has many other interesting options for investors. For a full list of companies currently available through the EXANTE platform, please search for OMXC in the Instruments module.

In terms of market capitalization, the undisputed leader is Novo Nordisk, a medical company specializing in the treatment of diabetes. The company boasts a market cap of €81B, exceeding the capitalization of such European giants as Airbus and Christian Dior.

The leaders in terms of stock price performance over the past 12 months are a small real estate company Park Street Nordicom (PSNRDC-A, market cap of € 9.9M *, YTD performance of 198%) and a larger media company North Media (NORTHM, market cap of € 112M, YTD performance of 151%) .

In terms of five-year profits growth, which is considered a more fundamental indicator, the leaders are Jutlander Bank (JUTBK, market cap of €242M, five-year profit growth 121%) and a real estate operator Jeudan (ticker JDAN, capitalization €1.2B, profit growth 102%).

The most expensive stock is, quite predictably, Møller–Mærsk (MAERSK-B, the market cap of €28B, share price €1259). However, even at this price, the stock is very liquid: an average of about 40,000 shares are sold per day. And still, this is not the most liquid stock. The leader in terms of the daily trading volume is local telecommunications giant TDC (TDC, market cap of €5.4B, share price €50). On average, about 10M shares of the stock are sold daily, their total value exceeding €500M. By comparison, the total value of daily sold shares of Møller–Mærsk is just €50M.

Search for the OMX Copenhagen exchange in the EXANTE terminal and trade its’ stocks alongside other 55,000 instruments. If you are looking for something out of the regular instruments list, feel free to contact us at support@exante.eu or your personal manager. We will add the ones you need within 24 hours.

* "M" stands for millions, "B" — for billions, "T" — for trillions.

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