Vestas Wind Systems has fallen 2.25 to 169.75 today on profit taking. It may also be something to do with the sell rating given to it by Jyske Bank a week ago.

The wind turbine maker will report its first-half earnings this Thursday. It's hard to overstate the importance of this - Vestas, the world's largest wind turbine manufacturer, is almost a bellweather for the European Wind Industry. Although the sector continues to boom, manufacturing turbines - in Europe - is not a high-margin business.

In 2004, Vestas' gross margin was just 2.4%.