The Helsinki Stock Exchange ended -2.3 percent in the frost on Monday at 11072.31 points.
All of the day’s most traded stocks fell. The forestry company rose to the top Great Enso (-5.4%), which said it was selling two of its sawmills and wood purchases in Russia.
As a result, an impairment loss of EUR 70 million and a loss of EUR 60 million have been recognized in the company’s first quarter result, which mainly consists of exchange rate adjustments recognized on the date of sale. Expenses are included in items affecting comparability.
A sharp decline was also seen Outokumpu (-6,4 %), From SSAB (-5.5%) and From Metso Outotec (-4.3%). Prices for iron ore and many industrial metals fell as the corona situation in China weakened. China’s economic growth threatens to clot due to austerity measures.
The counting point was also found Faron Pharmaceuticals (-8,2 %), Nexstim (-6.0%) and Rapala (-5,9 %).
The strongest rise was achieved by the office supplies company Wulff (+ 5.4%), which reported its best first-quarter interim result ever for January-March.
Also a bone implant company Bioretec (+4.4%) increased after reporting a recent study that provided further evidence of the usefulness of a biodegradable implant developed by the company in the treatment of severe wrist injuries in pediatric patients.
Solar heating company Savosolar (-5.2%) and a forest machine manufacturer Kesla (-3.8%) reported loss-making results in January-March, although sales of both increased.
At the same time, Kesla issued new guidelines for 2022 after earlier canceling its outlook after Russia invaded Ukraine. Now the company estimates that net sales will remain at the previous year’s level, but operating profit will weaken.
Like Kesla, he withdrew his instructions at the beginning of the war Ponsse (-1.0%) also gave a gloomy outlook, estimating that its operating profit this year will be significantly weaker than in the previous year. Ponsse is due to report on its January-March results tomorrow.