STOCK EXCHANGE: The stock exchange was buzzing: One share rose more than 27 percent, Nokia’s competitor collapsed

The general index of the Helsinki Stock Exchange fell sharply during the day, finally ending almost at the level of Monday’s closing price at 13,383 points.

The most traded shares of the day were the network technology company Nokia (-2.7%) and the financial group Nordea (+1,0%).

The stock market’s biggest faller was Nokia’s Swedish competitor Ericssonwhose share collapsed on the Helsinki stock exchange by almost 12 percent to 8.97 euros. The company published the results of the second quarter of the year in the morning. In its report, Ericsson warned that component price inflation is eating away at margins and said that the margins of the company’s core network business are in danger of shrinking.

Also the airline Finnair (-4.4%) the course was in a clear decline after both Nordea and OP lowered the company’s share recommendation to sell level.

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IT service company Tecnotreen the share was the biggest gainer of the day with a 27 percent price increase to 7.10 euros. Behind the strong rise is the announcement made by the company on Monday evening after the stock market closed, according to which an unnamed Canadian company has expressed its initial interest in buying the company. The price of the planned purchase offer would be 7.98–9.12 euros, which means a premium of at most 63 percent compared to Monday’s closing price.

At the beginning of the year, the main owners have already made a purchase offer for the company, with an Offer Price of EUR 5.70 per share. Thus, it is significantly lower than the current share price.

Circular economy company Lassila & Tikanoja (-3.9%) issued a negative earnings warning and lowered its operating profit guidance. The company justified the change in outlook with the weak demand for waste management at the beginning of the year.

On Tuesday, in addition to Ericsson, the infrastructure builder, which quickly exceeded analysts’ expectations, published its results Created (+6.8%) and the IT service company that reported weak second-quarter figures He wins (-8.8%). Also a treasurer Married (-1.6%) reported its second quarter profit figure, which barely exceeded the next company Inderes forecast.

On Wednesday, the telecommunications network company will announce its results, among others Elisa.