STOCK EXCHANGE: The drastic rise in the price of oil sent the Helsinki Stock Exchange down

The world’s stock markets have been in a clear decline on Monday, as the rapid rise in oil prices caused by the Iran crisis and growing geopolitical uncertainty have increased investors’ caution.

In Asia, the stock markets of Japan and South Korea ended earlier in the day down more than five percent. The same weak trend has also continued in the markets of Europe and the United States, where the stock indices fell clearly downwards.

The general index of the Helsinki Stock Exchange finally ended with a decrease of 1.1 percent to 12,586.75 points.

The most traded shares of the day were the network technology company Nokia (-0.2%) and the banking group Nordea (-0,1%).

Among the big companies, the sharpest decline was the steel company Outokumpuwhose share ended 6.5 percent below the closing price of the previous trading day. Also for example The machine, UPM-Kymmene and Metson shares were down 2–4 percent.

On Monday, the price of oil rose to its highest level since 2022, when the price of Brent quality temporarily increased by more than 27 percent in the morning and rose to 119 dollars per barrel. However, as the day progressed, the market calmed down and the price dropped back below $100.

Konecranes went through acquisitions

Manufacturer of cranes Konecranes announced in the morning that he bought a Thai one Ex-Kcranesin and a New Zealander Trimate Industriesin. Konecranes estimates that the acquisitions will expand the company’s maintenance presence in Australia and New Zealand. The company did not disclose the value of the acquisitions.

Konecranes shares ended up down almost four percent.

American-Israeli Chaim Katzmanin of G City the holding in the real estate investment company Citycon (+0.7%) rose to 86.4% after the takeover offer, according to the preliminary results, when the holdings of the company’s subsidiaries are also taken into account. The share is still below the 90 percent limit that the company would need to redeem the remaining Citycon shares from the minority owners.