STOCK EXCHANGE: The Helsinki Stock Exchange closed in the red – Kesko fell 7.2 percent

The Helsinki Stock Exchange closed on the first trading day of the week down 0.65 percent to 13,870.60 points.

Helsinki’s decline towards the end of the day was driven by Nokia, whose shares fell 3.3 percent on Monday. Neste’s share, on the other hand, closed down 3.9 percent.

The share of trading group Kesko fell 7.2 percent on Monday.

In the morning, Kesko announced a huge 1,200 million euro acquisition of a French listed company Saint-Gobainin with. Kesko announced that it will buy a company focused on technical trade from a French company Dahlin Swedish, Norwegian and Danish companies.

This is the largest acquisition in Kesko’s history, with which the construction and building technology trade business segment will become Kesko’s largest industry.

Nordea’s share closed 0.1 percent positive.

The airline Finnair’s share closed with a cheerful 8.1 percent increase.

Precious metal companies on the rise

On Monday, the biggest gainers on the Helsinki Stock Exchange were the gold mining company Endomines and the silver mining company Sotkamo Silver. The Endomines share closed with a 7.7 percent increase and the Sotkamo Silver share with an 8.8 percent increase.

The rise in stocks is supported by a rise in the prices of precious metals after the US and Iran announced the end of hostilities. In the afternoon, the price of gold was up 3.2 percent and the price of silver was up 2.8 percent.

Endomines also reported on Monday new ore exploration results from Ukkolanvaara on the Southern Gold Line.

The company’s results and geological observations form an overall picture of the thick and gold-rich deposit located near the surface. According to Endomines, the results obtained are at the top level of the industry and exceptional both in the Karelia gold line and in Finland as a whole.

“The results obtained from the Ukkolanvaara represent the pinnacle of the industry, and only a few mining companies worldwide achieve similar results. Drilling results like the Ukko deposit have not been reported before in the Karelia gold line, which emphasizes the exceptional potential of the area,” commented the company’s CEO Kari Vyhtinen.