Novozymes Gains on Brazil Enzyme Speculation: Copenhagen Mover

Novozymes A/S (NZYMB), the world’s largest maker of enzymes, traded at the highest price in a month in Copenhagen on speculation it will boost sales in Brazil.

Novozymes rose as much as 3 percent to 159.20 kroner, the highest since April 24. The stock advanced 2.9 kroner, or 1.9 percent, to 157.50 kroner at 10:01 a.m. in the Danish capital.

Graal Investimentos SA’s biofuel unit said yesterday it will build five plants in Brazil to produce ethanol from sugar-cane residues. Bagsvaerd, Denmark-based Novozymes said it will also build new facilities in the South American country because it will supply the five plants with enzymes.

Novozymes reported on April 25 a 9 percent decline in first-quarter sales, measured in local currencies, in part because its ethanol-producing clients used fewer enzymes.

To contact the reporter on this story: Gelu Sulugiuc in Copenhagen at gsulugiuc@bloomberg.net

To contact the editor responsible for this story: James Ludden at jludden@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.