Denmark: Carlsberg shares up 4.5% on strong first-quarter results

Shares in Carlsberg were up 4.5 percent to 315 Danish crowns ($56), a day after the world's fourth-biggest brewer reported stronger first-quarter operating profits than expected as its markets share grew in Eastern Europe, Reuters communicated on May, 7.

"Investors have looked into the report in more detail and remain optimistic," a trader says.

Natixis, UBS, JP Morgan, Nomura and ING raise their price target on the Carlsberg shares.

Another trader says positive sentiment for the brewery sector after a solid earnings report from the world's largest brewer, Anheuser-Busch InBev, probably also supports the Carlsberg share.

08 May, 2009