On Wednesday, the Helsinki Stock Exchange ended up with a slight decline.
The Helsinki Stock Exchange finally turned down on Wednesday. The OMXH general index ended with a decrease of 0.1 percent to 9,735.18 points. The general index fell for the sixth day in a row.
They ended up as the most traded stock of the day on the list of the most traded stocks Nordea (+1,2 %), Roots (+0.9%) and Sampo (+0,4 %).
Instead, they ended up with a bill Kone (-0,9 %), Stora Enso (-0.9%) and Cargotec (-1,0 %).
Titanium ended up in a brisk decline
Fund company Titanium issued an earnings warning late Tuesday night. The company estimates that the current year’s turnover will fall below the medium-term target level. Titanium’s goal is to achieve a turnover of more than 30 million euros for the year 2024 and strive to maintain an average operating profit margin of more than 50 percent without amortization of group goodwill in the medium term. According to preliminary estimates, the company’s net sales in 2024 will fall short of the 2023 level.
Titanium’s price ended on Wednesday with a decrease of 7.9 percent to 11.65 euros.
IT company Tecnotreen the rate ended up with a 5.3 percent increase to X euros. Kösti Kakkonen told Kauppalehti, that he has reduced his Tecnotree holdings and exchanged them for debentures. The company announced at the end of March that CEO Padma Ravichander sold a leveraged instrument for three million euros and bought back shares for the same amount. Debenture exchange bonds are counted as debt capital.
Helsingin Sanomat’s change negotiations concluded
Sanoma Media Finland told Helsingin Sanomat that the change negotiations have ended. As a result of the negotiations, the company will fire eight people. The targeted savings can also be reached through pension arrangements, not compensating those who have left, and a lower level of organization. Initially, it was estimated that the negotiations would lead to a reduction of no more than 20 jobs.
Parent company Sanoman the course ended on Wednesday with a rise of 0.4 percent to 7.15 euros.
Fortum said the Swedish ferroalloy producer Werewolf Alloyxen with a five-year electricity sales agreement for the annual supply of 0.4 terawatt hours of electricity and nuclear power guarantees of origin with gradually increasing pricing in Sweden. The value of the contract was not disclosed.
On Wednesday, Fortum’s share ended with a decrease of 1.2 percent to 12.05 euros.
Wärtsilä said he signed a contract based in Austin, Texas LCRA– with the authority. The value of the contract is not disclosed. The order concerns ten Wärtsilä power generators, which the authorities use to supply electricity to the Texas power grid. The order was booked with Wärtsilä in March 2024.
Wärtsilä shares ended up 0.3 percent higher at 15.33 euros.
Recommendation changes
Wednesday saw a lot of recommendation changes given by analysts:
Inderes lowers Oma Säästöpankki’s target price to EUR 26.00 (previously EUR 27.50), the buy recommendation remains unchanged.
Inderes lowers Honkarakenne’s target price to EUR 3.20 (previously EUR 3.30), the reduce recommendation remains unchanged.
OP lowers Mandatum’s recommendation to reduce (previously increased), the target price rises to EUR 4.40 (previously EUR 4.30).
OP raises Stora Enso’s target price to EUR 11.00 (previously EUR 10.50), the reduce recommendation remains unchanged.
OP raises Huhtamäki’s target price to EUR 40.00 (previously EUR 39.00), the recommendation rises to the add level (previously reduce).
Danske Bank raises Kesko’s recommendation to buy level (currently hold), repeats the target price of EUR 18.80.
JP Morgan raises Stora Enso’s target price to EUR 14.30 (time: 13.20), repeats the add recommendation.
JP Morgan raises the target price of UPM-Kymmene to EUR 36.00 (previously 34.60), repeats the recommendation for more.
DNB Markets raises Wärtsilä’s target price to EUR 18.00 (time 17.00), repeats the buy recommendation.
Carnegie Group lowers Cargotec’s recommendation to hold (temporary buy), repeats the target price of EUR 68.00.
SEB raises Pihlajalinna’s target price to EUR 8.00 (previously EUR 7.50), reiterates the hold recommendation.