Aspo is up more than 9 percent after the news of the split

The Helsinki Stock Exchange opened on the first trading day of the week without a clear direction. At the opening, the general index was unchanged from Friday’s close at 0.00 percent at 13,124.61 points.

Moments after the start of trading, the general index started to wake up and hurt in a small increase of 0.05 percent.

At the top of the exchange Nokian the stock rose 0.2 percent uphill. Liquidn’s share was down 2.8 percent.

The heaviest gainer in the morning on the Helsinki Stock Exchange was a conglomerate Aspo, which published its results in the morning and announced that the company’s board approved the company’s division plan. Aspo’s share rose 9.9 percent uphill.

In Europe, the stock markets opened on Monday in a bullish direction. The Euro Stoxx 50 index was up 0.8 percent at the opening. In Germany, the DAX index rose by 1.0 percent and in France, the CAC index rose by 0.9 percent.

Wall Street is expected to open higher in the afternoon Finnish time.

Aspo splits and results publishers

In the morning, a specialist in industrial maintenance published its results 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.

Viafin’s operating result in April–June was 2.0 million euros, while at the same time last year it was 1.7 million euros. 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 rose sharply by 5.0 percent in the morning.

Recommendation changes

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

OP counts Sammon to the add level of the recommendation from the previous buy level. OP repeats the target price of 10.40 euros for Sammo.

OP counts Stora Ensonto the decrease level of the recommendation from the previous increase level. OP repeats the target price of EUR 10.00 for Stora Enso.