STOCK EXCHANGE: Earnings warning Citycon and forest companies’ share prices are clearly falling

The Helsinki Stock Exchange’s general index OMX Helsinki was down 1.0 percent at 10,121.23 points at 2:18 p.m. The bill is extensive. Of the stocks on the main list of the stock exchange, 84 were down and 38 were up.

In Asia, markets were disappointed on Tuesday when China’s economic policy planning commission held a press conference, but did not announce any major projects. The Chinese government therefore did not promise any significant additional stimulus to the country’s economy in addition to previous announcements. Disappointment has also been seen in Europe in the shares of companies with connections to China.

The Index Futures, anticipating the opening of the US stock market, have turned upward during the afternoon.

The share prices of several companies at the top of the exchange have been in a clear decline on Tuesday. At the top of the list is a forest company UPM Kymmene told about change negotiations that could lead to a possible reduction of 110 positions at UPM Fibers Finland. UPM’s share price was down 3.2 percent at EUR 29.34. Stora Enso’s share price, which was clearly rising yesterday, was down 3.5 percent at EUR 11.875.

Liquid the share price was down 2.2 percent at 16.89 euros.

Elevator company Konethe share price was down 1.6 percent at 51.74 euros. OP raised Kone’s target price to 56.00 euros from 50 euros. The recommendation is still more.

Citycon issued a profit warning

Among the companies on the main list, at the top of the list of losers is a real estate investor who warned about its results Cityconin share. The share price was down 5.7 percent at EUR 3.868. Citycon issued a profit warning yesterday after the stock market closed at 20:15. The company expects the operating profit to fall in the range of 183–187 million euros this year, while the guidance issued in July expected 185–195 million euros.

Citycon justifies the change in the guidelines with several factors. For example, the company has divested the Kongssenteret and Trekanten centers in Norway during this year.

As other reasons, the real estate investor cites the weakening of the exchange rates of Norwegian and Swedish kroner, the delay in the completion of the Barkarby residential real estate project, and the cumulative effect of one-time costs related to the reorganization of the organization in accordance with the savings program.

Terveystalo a 0.15 euro share has been removed from the share price today. The share price was slightly higher than the dividend by EUR 0.22, or 2.3 percent, down to EUR 9.25.

Kojamo announced on Monday about his change of CEO and the share price fell by more than five percent. On Tuesday afternoon, the share price was up 0.9 percent at 9.695 euros.

Another Monday counter Tietoevry received a weaker recommendation from Bank of America at the end of the week. On Tuesday, the share price was up 0.2 percent at 17.16 euros.

NoHo shopping

Restaurant group Noho Partners has bought the majority of the business of H5 Ravintoloi, which includes eight restaurants in Tampere, through a stock transaction.

Restaurants include H5 Bar&Cellar, Pub Kujakolli, restaurant Härlem, restaurant Pons, The Red Lion Pub, restaurant Tuoppi and Beerhouse Opaali. In addition, the sale includes the sports bar Kultainen Ilves, which is responsible for the serving of the football stadium in Tammela.

Noho’s share price was up 1.4 percent at 7.38 euros.

Bioretec, which received a lower target price, is the counter of the day

Carnegie fat I coached target price to 39.00 euros from 42.00 euros. Nordea raised Valmet’s target price to EUR 32.00 from EUR 30.00. The buy recommendation for both remained unchanged. Valmet’s share price was down 0.9 percent at 27.71 euros.

Inderes fat Bioretecin the target price to 2.60 euros from 2.90 euros, the reduce recommendation is unchanged. The share price was down 6.3 percent at 2.23 euros.

Inderes counts Exel Compositesin recommendation from the decrease level to the increase level and reiterated the target price of EUR 0.38. The share price was down 1.55 percent at 0.382 euros.