Maersk shares down 2 percent

Shares in Danish shipping and oil group A.P. Moller-Maersk fall 2 percent after UBS cuts its recommendation on the shares to "sell" from "neutral" and lowers its target price to 40,000 crowns from 48,000.

"That is what is pushing the shares down," Ole Jensen, head of equities at Sydbank says. "They (UBS) are a bit worried about container shipping rates going forward."

Jyske Bank trader Henrik Aagaard says the share reaction is surprisingly big. "But that is the only thing out there which would explain a fall in the stock right now."

"We all know shipping rates will be falling a bit, but volumes are good," Aagaard said. "The stock has had some positive days but is now taking a break as some investors are taking profits."
(Source: http://uk.reuters.com)