STOCK EXCHANGE: Kalmar started the stock exchange with a big swing, a strong opening in Helsinki

The Helsinki Stock Exchange’s OMXH general index opened on Monday with a one percent increase at 10,040 points.

Of the most traded stocks, all were clearly on the rise. At the cutting edge Nordea was 1.9 percent and Nokia 2.5 percent uphill.

Kalmar to the stock exchange listings

A manufacturer of cargo handling equipment Cargotecin the division took place at the turn of the month, and the manufacturer of cargo handling equipment, which spun off from the company into its own listed company Kalmar started on the stock exchange’s main list on Monday. Cargotec remained the manufacturer of vehicle load handling equipment Hiab and operating in sea cargo and load handling MacGregor.

Cargotec’s closing price before the split on Friday was 74.95 euros. Cargotec shareholders have received one Kalmar share for each Cargotec share they own. Analysts had guessed that Kalmar was slightly more than 40 percent of the value of the whole.

On Monday, Cargotec’s course opened at 44.30 euros and Kalmar’s course at 35.60 euros. The total value was thus 79.90 euros, i.e. 6.6 percent higher than Friday’s closing level. Immediately after the split, the value of Cargotec, which was left over from the previous entity, was 55.4 percent, and Kalmar’s was 44.6 percent. Kalmar’s exchange rate in particular moved strongly between 30 and 37 euros in the morning with a low exchange rate.

In the morning, Kalmar specified its outlook for this year and estimated the operating profit percentage to be more than 11 percent this year. Cargotec had previously given Kalmar the same instructions, but the clarification for independent Kalmar was still positive. Cargotec estimated in May that the costs arising from operating as an independent company will have a negative effect of approximately 1–2 percentage points on Kalmar’s annual result of Cargotec’s Kalmar business. So now the same guidance level remained, despite the negative effect of the additional costs.

Additional time for Tietoevryn Tech Services sales

IT service company Tietoevry extended the schedule for the strategic evaluation and sale of the Tech Services business. Originally, the evaluation was supposed to be completed by the end of the second quarter, but now the company said that it will provide more information on the matter by the time of the third quarter results report. The company’s Q3 results announcement is on October 24. Tietoevry’s share opened up 1.3 percent on Monday.