Bittium down more than 5 percent on the stock market – Nokia and Neste down

The Helsinki Stock Exchange was down at the time of the afternoon review. At the time of the review, the general index was down about 0.3 percent at 13,079.25 points.

At the top of the exchange Nokian the share was down 1.7 percent. Liquid the share was down 4.3 percent at the time of the review.

A communications technology company Bittium the share was down more than 5 percent. Bittium’s share price rose from 26 euros to more than 28 euros last week.

The biggest rise was a conglomerate Aspo, which published its results in the morning and announced that the company’s board approved the company’s division plan. At the time of the review, Aspo’s share was up 10.5 percent.

Health technology group of Revenio Group the share was up 4.9 percent and the financial group of United Bankers share up 4.4 percent.

Earnings publishers on the rise

Monday’s results publishers were specialized in industrial maintenance Viafin Service and conglomerate Aspo.

In the morning before the results announcement, Aspo announced that its board had approved the company’s division plan. With the division, the subsidiary ESL Shipping will be separated into a new independent listed company. The name of the new company will be ESL Shipping Group.

The division is scheduled to take effect at the end of December, and in connection with it, the current Aspo will be renamed Telko Group. According to the company, the goal of the division is to clarify the company structure and improve the profitability of both businesses.

The comparable ebita result of Aspo’s continuing operations was EUR 10.8 million in April–June. At the same time last year, the result was 7.5 million euros.

The result exceeded by Vara Research forecast compiled by three analysts. Analysts expected a comparable ebita result of 7.8 million euros from the company.

The turnover of the company’s continuing operations was EUR 131 million in the review period. A year earlier, turnover was 126 million euros. The turnover exceeded the analyst forecast, where the company was expected to have a turnover of 124 million euros.

The operating result of another results publisher, Viafin, was EUR 2.0 million in April–June, compared to EUR 1.7 million at the same time last year. The company’s operating profit margin was 7.1 percent. The result barely exceeded Inderes a forecast that expected an operating profit of 1.7 million euros from the company.

The company’s turnover was 28.8 million euros, while in April–June last year the turnover was 29.8 million euros. The turnover exactly exceeded Inderes’ forecast, which predicted the company’s turnover to be EUR 28.5 million.

Viafin Service’s share was up about 4 percent at the time of the afternoon review.

Recommendation changes

DNB Carnegie raised Outokumpu target price to 5.90 euros from the previous 5.50 euros. DNB Carnegie reiterated its buy recommendation for Outokumpu shares.

The OP counted Sammon to the add level of the recommendation from the previous buy level. OP repeated the target price of 10.40 euros for Sammo.

The OP counted Stora Enson to the decrease level of the recommendation from the previous increase level. OP repeated the target price of EUR 10.00 to Stora Enso.

Citi raised Huhtamäkithe target price to 36 euros from the previous 35 euros and reiterated the buy recommendation.