The Danish C25 index has experienced an increase of approximately one percent following the release of a framework agreement on trade between the European Union and the United States on Sunday evening. This positive movement was evident in the initial minutes of trading.

GN Store Nord is leading the gains, showing an increase of around three percent. Novo Nordisk is also up, contributing to the index’s overall positive performance. Bavarian Nordic is also experiencing a rise following a confirmed takeover bid of DKK 19 billion.

Conversely, Carlsberg is currently at the bottom of the index with a slight decrease.

Despite the agreement including a base tariff of 15 percent on goods from the EU imported by the USA, investors appear to be responding favorably to the increased certainty surrounding the trade relationship.

“Investors are reacting optimistically,” stated Per Hansen, investment economist at Nordnet, in a written comment released before the C25 opening. He further explained that the alternatives to reaching an agreement would have generated greater uncertainty and potentially led to worse outcomes.

Prior to the index opening, business organizations such as the Danish Chamber of Commerce (Dansk Erhverv) and the Confederation of Danish Industry (Dansk Industri) voiced criticism of the reached trade framework agreement. Lars Sandahl Sørensen, CEO of DI, commented that “the agreement is far from what we had dreamed of, and there are still significant parts that need to be in place.”