Maersk Gains as Company Meets Tough Market With Cost Cuts


A.P. Moeller Maersk A/S shares gained as Denmark’s biggest company met punishing market conditions with cost cuts in order to create a leaner business.

The company’s B-shares rose as much as 6.9 percent after the market opened on Friday, and traded 5 percent higher at 9,520 kroner as of 9:34 a.m. in Copenhagen. Maersk reported an 88 percent drop in second-quarter profit as its oil and container divisions both suffered from falling prices, but earnings before interest and tax came in at $656 million, beating an estimate of analysts surveyed by Bloomberg of $551 million.

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