STOCK EXCHANGE: Oma Säästöpankki registered with the appointment of the CEO

The direction of the Helsinki Stock Exchange turned negative on Monday afternoon. The general index finally closed with a decrease of 0.1 percent to 10,332 points.

Unlike Helsinki, the strong pull continued in the Asian stock markets. The rise is underpinned by China’s significant stimulus measures. The CSI 300, which describes the performance of the most traded shares in Shanghai and Shenzhen, rose 8.5 percent.

In the most traded stocks Nordea decreased by 0.7 percent, while Nokia fell by 0.5 percent. Kone closed on Friday at its closing level of 53.70 euros.

Engineering works I coached The 0.67 euro dividend was released on Monday. The share fell by 3.1 percent to 28.76 euros.

Oma Säästöpankki has a new CEO

My Savings Bank the CEO of Savings Bank Group has been elected as the new CEO Karri Alameri. Despite its name, Oma Säästöpankki is not part of the Säästöpankki Group. Alameri will start his duties no later than April 1, 2025.

Previous CEO Pasi Sydänlammi had to leave his position in the summer when it was revealed that the company had acted contrary to the guidelines in lending and the bank had to make write-downs.

Oma Säästöpankki’s share closed up 4.7 percent to 14.30 euros.

Alisa Bank published a new strategy and goals for the years 2024-2027. The goals include an average of 20 percent annual growth in operating income during the strategy period, a return on equity of more than 15 percent by the end of 2027, a cost-to-income ratio of less than 50 percent by the end of 2027, and a solvency ratio of 16 percent throughout the strategy period.

Alisa’s share price closed up 1.1 percent to EUR 0.18.

Nurminen Logistics Finnish subsidiary Nurminen Logistics Services Oy completed the change negotiations.

The negotiations concerned the termination or severe downsizing of Vainikkala’s terminal operations and the reorganization of Kotka’s forwarding operations. In addition, the merging of overlapping roles has been examined.

As a result of the changes, the employment of 11 people in the company will end. In addition, the operation of the Vainikkala terminal will become project-based, the release states.

Also publishing a trade magazine Middle Soul (+1.4%) agreed to sell what they owned Kotikokki net Oy’s shares, i.e. 65 percent of the stock, to the company’s minority owner Region Oy:lle. The transaction will take place on 1 October 2024.

Kotikokki.net is a digital service website focused on cooking and food recipes, with a turnover of 0.2 million euros in 2023. The service reaches more than 200,000 different users every week.

The parties have agreed that the purchase price will not be made public. The transaction has no significant impact on Alma Media’s earnings.

Alma News Media, part of Alma Media, informed about the change negotiations. In the change negotiations, the planned streamlining and reorganization of Kauppalehti Option and Fakta and Mediuutinen’s production and business operations will be reviewed, as well as the measures that may be applied to personnel as a result.

The negotiations concern a total of about eighty people. According to the preliminary plan, the number of staff may decrease by a maximum of thirty staff years.

Network company Nokia was chosen to improve the world’s largest ixp operator of the Brazilian Network Information Center (NIC.br) internet infrastructure performance and reliability, Nokia says in the press release. However, the release did not mention the value of the contract.

Cargoteciin (-0.5%) belonging MacGregor said that it supplies 12 loading systems for car transporters. The order is included in Cargotec’s orders received for the third quarter of 2024, and will be delivered between the second quarter of 2026 and the fourth quarter of 2029.

Shopping center investor Citycon said it sold the Trekanten center in Oslo.

Cityconin (-0.7%) was published and signed on September 6, 2024. The gross purchase price is NOK 1,325 million, or approximately EUR 112 million.

The purchase price is close to the center’s fair value according to IFRS, excluding the value of construction rights. The proceeds from the sale are intended to be used to reduce the amount of debt and thus further strengthen Citycon’s balance sheet.

Event organizer Rush Factory told about his figures for January–June. Earnings and turnover decreased from last year. In the first half of the year, the operating profit was a loss of 232,000 euros, while in the comparison period it was a profit of 98,000 euros.

Turnover, on the other hand, was 667,000 euros, while it was still 2.07 million euros in the comparison period.

“There is no intention to continue the Color Obstacle Rush concept in the next season. When the merger takes place, the company will focus on the street food event concept implemented together with Street Food Group in Finland. The initiation of other event concepts will be investigated in the future within the framework of available resources,” the company says in the press release.

The exchange rate rose by 36.8 percent to 0.42 euros with a difficult exchange of 380 euros.

Optomed is interested in Danske’s funds

Optomed announced that Danske Bank’s holdings had risen above the five percent limit. It is mainly about holdings of funds. According to data collected by Holdings, Danske’s funds have increased their investments in Optomed since July.

Optomed’s share closed up 3.0 percent to 4.78 euros.

Inderes raised Ovaron increase to the level of the stock’s recommendation, the previous one was to decrease. The target price is still EUR 4.40. The share strengthened by 1.0 percent to 3.93 euros.

Inderes counted BBS:n the target price of the share to 0.30 euros from 0.35 euros. The recommendation is still to reduce.

Inderes lowered Kone’s investment recommendation to the level of reduce, while the previous one was more. The target price of the share rose to 52 euros from 50 euros.

DNB Markets news YIT:n target price to EUR 2.00 from EUR 1.40, the sell recommendation remained unchanged. The share rose 1.1 percent to 2.74 euros.

Citi raised Kone’s target price to EUR 60.00 from EUR 51.30, but the buy recommendation remained unchanged.

Jefferies started Outokumpu with a follow-up target price of 4.50 euros and a buy recommendation.