Shares in Danish shipping and oil group A.P. Moller-Maersk ise nearly 4 percent, outperforming the Copenhagen bourse, as Germany's TUI AG lifts its forecast for its container shipping business Hapag-Lloyd -- a Maersk rival.
TUI says it expects its 43 percent stake in Hapag-Lloyd to generate higher profit contributions to the group than earlier foreseen. It says it expects the result from container shipping to be clearly positive.
"This is evidence that things are changing extremely quickly in the container shipping industry," says Sydbank analyst Jacob Pedersen.
"Volume growth has been clearly better than expected," says Pedersen, who has an "overweight" recommendation on A.P. Moller-Maersk shares. "Maersk Line will be earning a lot of money this year."
TUI says it expects its 43 percent stake in Hapag-Lloyd to generate higher profit contributions to the group than earlier foreseen. It says it expects the result from container shipping to be clearly positive.
"This is evidence that things are changing extremely quickly in the container shipping industry," says Sydbank analyst Jacob Pedersen.
"Volume growth has been clearly better than expected," says Pedersen, who has an "overweight" recommendation on A.P. Moller-Maersk shares. "Maersk Line will be earning a lot of money this year."