The most actively traded share was Novo Nordisk at DKK 12.3 billion, which among other things was due to the fact that the company changed its expectations to the annual results on 10 April. Danske Bank accounted for the second largest trading volume at DKK 5.2 billion. The trading volume of Sophus Berendsen, concerning which an offer was made by Davis Service Group PLC, was DKK 4.6 billion, and the trading volume of Lundbeck was DKK 3.7 billion, in which one single large relocation was included.
Morgan Stanley & Co. International Limited, London, who began trading on 25 March, reached a market share of 6.6 per cent relative to the total turnover and was the seventh most actively trading member.
The KFX shares accounted for a turnover of DKK 41.2 billion, corresponding to 84 per cent of the total share trading volume. Based on the expected delisting of Sophus Berendsen, the company will not be included in the KFX portfolio to be selected at the beginning of June 2002, and which enters into force on 24 June 2002.
In April, the KFX Index was influenced by fluctuations in Novo Nordisk, and on 10 April the index experienced its steepest absolute fall ever of 14.55 points. Measured in percentage the drop was 5.3 per cent, which was the steepest price drop since September 1998 and the third biggest drop ever. The KFX Index closed at 256.87, just under 8 per cent lower than the end of March 2002.
Derivatives trading remains modest. However, the trading increased by 13 per cent compared with March to 44,060 contracts, distributed with 80 per cent on KFX futures and 20 per cent on options on individual shares. The most actively traded options were Novo options (approx. 2,000 contracts) and Vestas options (approx. 1,900 contracts).
The bond trading in April amounted to DKK 366.8 billion, 7 per cent lower than in March 2002. The fall covers a drop in the turnover in standard mortgage credit of 13 per cent to DKK 185.3 billion and an increase in turnover in government securities of 10 per cent to DKK 145 billion.
On level with international trends, the bond yields have been falling over the month of April. The true yield on the 10-year Government benchmark 6% 2011 fell from the end of March 2002 by 8 basis points to 5.36 per cent. The true yield on the 30-year 6% 2029 Standard Mortgage Credit fell by 7 basis points over the month to 6.49 per cent.
The turnover in unit trust certificates
On the stock market the trading volume in unit trust certificates amounted to DKK 2.27 billion, whereas the turnover in non-listed unit trust certificates on the Exchange's new XtraMarked reached DKK 2.33 billion, which is an increase of 11 per cent compared with March. The turnover in unit trust certificates was thus DKK 64 million higher on the XtraMarked than on the stock market.
The market value of the unit trusts on the XtraMarked amounted to DKK 21.9 billion, and the market value of the listed unit trusts was DKK 61 billion at the end of April.
