STOCK EXCHANGE: Moderately positive price reaction to Nokia’s ASN deal

On Thursday afternoon, like the rest of Europe, the Helsinki stock exchange was in a gentle decline. However, the decline in the OXMH general index had reduced from 0.3 percent in the morning to 0.1 percent.

At the cutting edge Nordic the stock was down 0.3 percent and Nokian increased by 0.7 percent. Among the most traded stocks at the fastest pace was Wärtsilä in a 1.5 percent increase.

Nokia said it was selling the well-known submarine cables ASN:n to the French state. To ensure a smooth transition, Nokia will retain a 20 percent ownership stake in ASN and representation on the board until the end of the agreed period. According to Nokia, the goal is for the deal to be completed by the end of 2024 or early 2025 after that.

Manufacturer of fundus cameras Optomed carried out a directed share issue, which the company announced yesterday at 21:30. The board decided to issue 150,000 new shares. The subscription price was EUR 5.25, and the company netted approximately EUR 7.9 million in gross proceeds from the issue. Optomed’s share price ended at EUR 6.09 yesterday, so there was a 13.7 percent reduction in the subscription price. On Thursday, Optomed’s share was at the bottom of the stock market, down 4.8 percent at 5.80 euros.

A fur company Saga Furs reports the half-year report of its own fiscal year from November to April. The company’s turnover fell clearly, and the operating result sank to a loss. According to the company, the result of the financial year depends on the September auction, the success of which Saga Furs cannot predict at this stage due to the difficult market situation. The stock was up 0.9 percent in minimal trading in the afternoon.

US Index futures were slightly lower in anticipation of a rosy stock market opening for Wall Street.