STOCK EXCHANGE: A cautious opening at the Helsinki Stock Exchange

On Wednesday, the general index of the Helsinki Stock Exchange was down about 0.1 percent at 9,584.56 points. At the same time, the return index, which takes stock market dividends into account, has also fallen below the readings at the beginning of the year this week.

At the top of the exchange, Nordea was down 0.4 percent and Nokia was up 0.6 percent.

Construction company YIT said that it has been selected as a partner for the development phase of the program alliance of Helsinki’s urban development and tramways. According to YIT’s press release, the contract is expected to be signed in December 2024.

The projects included in the program are Länsiratikat, Länsisatama light rail and Viikin-Malmi light rail, as well as related investments.

The maximum investment value determined by the subscriber of the program alliance is approximately EUR 1,200 million. Estimates are refined when the project’s content and target costs are refined in separate development phases.

YIT: the share was up 0.6 percent.

My Savings Bank said yesterday that it was suspending the IRB approval application process until further notice. According to the company’s press release, OmaSp’s board of directors approved the entire IRB license application in February 2022. The authorization process was started with the Financial Supervisory Authority for the application of the method in solvency calculations.

The Financial Supervisory Authority has evaluated the IRB license application submitted by OmaSp. In the dialogue held during 2024, development needs have been identified in several areas of OmaSp’s IRB model framework.

According to the release, because of this, Oma Säästöpankki does not expect to receive an approving decision on the submitted IRB license application and will suspend the process for the time being.

OmaSP’s share was little changed in Tuesday’s closing readings.

The asset manager and life insurer reported its third-quarter results yesterday Commandment received recommendation upgrades from analysts. Analysis house Inderes raised the recommendation level of the stock to ‘add’ and OP to the level of ‘buy’. At OP, the target price increased from 4.6 to 4.8 euros.

Mandatum’s share was up 1.0 percent on Wednesday after falling slightly on Tuesday.

Today, the companies on the Helsinki stock exchange do not announce their results, but Bioretec, Ovaro and Valoe will announce their interim reports on Thursday.