STOCK EXCHANGE: A warm atmosphere at the Helsinki Stock Exchange – Merus Power and Faro on the rise

The last trading day of this year is being celebrated at the Helsinki Stock Exchange. In the afternoon, the general index describing the price development of shares was at 9,470.83 points, or about 0.1 percent lower compared to Friday’s closing reading.

Compared to the closing reading at the end of last year, the index was down more than six percent.

The top of the most traded shares were the bank Nordea 0.6 percent up and the fuel company In this up 0.9 percent.

Pharmaceutical company Orion and Marinus Pharmaceuticals mutually decided to terminate their pan-European marketing and distribution agreement for ganaxolone.

Orion suspends all ganaxolone-related activities in Europe, including preparations to launch the product.

In connection with the termination of the agreement, Marinus will pay Orion 1.5 million euros in the first half of 2025 for regaining the commercial rights of ganaxolone in Europe. In 2021, Orion paid Marinus 25 million euros for the rights. As a result of the termination of the agreement, Orion will make a write-down of EUR 23.5 million in the last quarter of 2024.

Orion’s B share was up 0.3 percent.

Updates in management groups

Electrical technology company Merus Power said that he would consolidate his management team, which means that the three current members will leave the management team. He was appointed as a new member to the management team Jarkko Latonenresponsible for factory operations and quality.

The person in charge of factory delivery processes will drop out of the management team Maiju Levirinneserved as aftermarket and service manager Toni Peltomaa and delivery process and worked as PMO director Juuso Järvinen.

The company’s share was up 11.6 percent.

A software company LeadDesk said that he appointed him as CFO and to the company’s management team Teemu Rautiainen. Rautiainen’s bath starts on March 31 next year.

LeadDesk’s stock was down 2.3 percent.

Construction company YIT agreed A-Crown about the construction of an ARA-subsidized rental house in Jyväskylä, YIT announced in the morning. According to the release, the value of the contract to be recorded for October-December is around 11 million euros.

YIT’s share was down 0.9 percent.

Risers and fallers

During the day, there was a big swing, especially in the shares of smaller companies on the exchange.

Pharmaceutical company Faron Pharmaceuticals was one of the stock market’s biggest gainers with a jump of 9.6 percent. There was no news about the company on Monday, but the name appeared in Kauppalehti’s article.

There was no news from the pharmaceutical technology company either Nanoformistawhose share was up 7.9 percent.

They were at the bottom of the stock market Honkarenken 7.4 percent down and a metal industry company Afraq down 6.9 percent. Afarak’s stock rose sharply last week.