STOCK EXCHANGE: A Norwegian insurance company got excited about Finnish small companies

On Wednesday, the OMXH general index of the Helsinki Stock Exchange ended with a decrease of 0.02 percent to 9,947 points. The expected market event of the day was the Federal Reserve’s interest rate decision in the evening at 21:00 Finnish time.

Under the Fed’s decision on the most traded stocks on the Helsinki Stock Exchange Sammon the course fell by 2.4 percent Goldman Sachs the calculated target price from 48 euros to 40 euros and the recommendation from the buy level to the sell level.

Used car dealer Kamux said that it was closing two stores in Finland and one in Sweden. In Finland, the company concentrates sales on larger and fewer stores, and in Sweden, unprofitable stores are closed or moved to new locations. Kamux’s share price fell by 1.5 percent.

Treasurer Capmanin (+0.5%) the board decided on an additional dividend of EUR 0.04, the ex-dividend date of which is Thursday, September 19. In the spring, the general meeting had decided on a dividend of 0.06 euros and to leave the dividend installment of 0.04 euros subject to the authorization of the board.

Inderes started a carbon nanotube technology company Canatun follow-up with a target price of 13 euros and a reduce recommendation. On Wednesday, Canatu’s price ended with a 2.3 percent increase to 13.20 euros.

Information security company Withsecure a block trade of 494,215 euros was made on the stock exchange, when 485,000 shares changed hands at a price of 1.02 euros per share. The block corresponds to more than ten times the average daily volume of the stock over the last 20 days. At the end of August, the 27 largest Finnish owners of Withsecure owned at least a block of shares. Withsecure’s price ended with a 0.4 percent increase to 1.04 euros.

Norwegian insurance company Protector Insurance flagged Hedgehog Solutions (+0.6%) -its ownership rose above the five percent flagging limit to 7.84 percent. At the same time, the Norwegian company became the second largest owner of the IT service company Siili Braden after the family. In August, Protector Forsikring, listed on the Oslo Stock Exchange, flagged over five percent ownership In Lassila & Tikanoja and Sitowisessa. According to Tietopalvelu Holdings, Protector Forsikring is also a large owner of companies on the Helsinki Stock Exchange Innofactorissa and at Verkkokauppa.com.

Only 14 percent of Protector Forsikring’s investment portfolio is in stocks, but the company engages in ambitious stock picking. At the end of June, there were 38 shares in the portfolio, the market value of which, according to the company, was 37 percent below the estimated value.