STOCK EXCHANGE: SSH’s earnings disappointment and Kone’s rumors colored the stock market day

The Helsinki Stock Exchange opened lower on Tuesday, but during the day it clearly turned to the plus side. Stock exchange OMXH General Index finally rose 0.6 percent to 12,841.17 points.

The most traded shares of the day were the banking group Nordea (+0.2%) and the elevator company Kone (+2,6%).

Bloomberg reported during the day, referring to its sources, that Kone is considering increasing ownership a Japanese technology group Toshiban majority owned At Toshiba Elevator. Kone currently owns slightly less than 20 percent of the companies.

According to Bloomberg’s sources, an option has also been put on the table in which Kone would buy the entire Toshiba elevator unit in question. Kone has previously been said to have considered, among other things, making an offer for its competitor from TK Elevator.

SSH dived

An information security company that wildly increased its value last year SSH Communications Security told in the morning about the deterioration of the company’s turnover and profit figures. SSH’s figures for the last quarter of the year dipped more than analysts’ expectations, even though the company had previously issued a profit warning and lowered its guidance.

The company’s share recovered during the day from the 15 percent drop at the stock market opening, but still closed around seven percent below yesterday’s closing price at 2.41 euros.

Also an engineering company Ponsse (-0.8%) reported a decrease in turnover and operating profit in the last quarter of the year. However, the numbers were better than analysts’ average expectation.

Chemical industry company Kemira (-1.4%) says that it plans to build an activated carbon reactivation plant in connection with its Tarragona production plant in Spain. The value of the investment is expected to be around 20 million euros.

A mining company suffering from the drop in precious metal prices Sotkamo Silverin the share was down more than six percent. The company’s price has already fallen by more than 25 percent during the past five trading days.