Danish Windturbine Stocks Gain on US Budget Plan

Bush draft budget to extend the current tax credit system for wind energy.

Published: 10-Apr-2001

COPENHAGEN, April 10 (Reuters) - Shares in leading Danish wind turbine manufacturers soared on Tuesday after the Bush administration proposed in its new draft budget to extend the current tax credit system for wind energy.

At 1405 GMT the Vestas(VEST.CO) share traded 40 crowns or 11.8 percent higher at 380 crowns ($45.5), while Copenhagen bourse`s top-20 KFX index <.KFX> was 1.04 percent up and the Dow Jones EuroStoxx energy index <.SXNP> was 2.8 percent up.

Rival NEG Micon(NEG.CO) was 30 crowns or 9.5 percent higher at 345 crowns.

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