The Helsinki Stock Exchange finally calmed down for the weekend in the rise. The OMXH general index ended on Friday with a 0.67 percent increase to 10,019.23 points.
The biggest decliner of the day was a manufacturer of electric car charging stations Kempower, which ended up with a 28.6 percent decrease to 15.99 euros. On Thursday evening, shortly before the stock market closed, the company issued a negative earnings warning, in which the turnover guidance for the current year was significantly lowered.
A drug development company Faron Pharmaceuticals was instead, like yesterday, one of the day’s biggest risers. The company said on Thursday that it had received positive feedback from the US Food and Drug Administration FDA about the research program of its blood cancer drug. On Friday, Faron’s price ended with a 14.2 percent increase to 1.80 euros.
Among the most traded shares, the following ended up rising Nordea (+0,7 %), In this (+3.0%) and Roots (+2.1%). Among the most exchanged shares in the decline were, for example, Fortum (-0.1%) and Elisa (-0,4 %).
Negative profit warning from Nurminen Logistics
Logistics company Nurminen Logistics issued a negative profit warning on Friday evening.
According to the new guidelines, the turnover in 2024 will be below the turnover in 2023 and the comparable operating profit will be slightly below last year’s level. In 2023, the company had a turnover of 128 million euros and a comparable operating profit of 21.5 million euros. According to the previous guidelines, the group estimates that the 2024 turnover and comparable operating profit will increase from 2023.
According to the company, the reason behind the decrease in guidance is the significant decrease in Baltic volumes due to the prolongation of the Red Sea crisis. A large part of the transports going from Central Asia via the Baltic to Asia has moved to overland routes from the beginning of the summer season until the onset of winter.
The Helsinki Stock Exchange was open for about 10 minutes after the result warning. Nurminen’s share price ended with a 10.5 percent decrease to 0.90 euros.
A positive result warning from Atria
Food company Atria raised its 2024 adjusted operating profit guidance. The company estimates that according to the new guidelines, the adjusted operating profit will be higher than the previous year, when it was 49.6 million euros. In the previous guidelines, the adjusted operating profit was estimated to be lower than the previous year.
According to the company, the reason behind the increase in guidelines is good profit development in all of Atria’s business areas. The new poultry factory has been put into operation successfully and it enables business expansion and cost-effective production in the future.
Atria’s share price ended with a 5.9 percent increase to 10.10 euros.
Kesko fell rapidly
Miscarriage sales fell by 7.5 percent in June. Sales decreased in all industries in a comparable manner. Depending on the business, delivery days were 1-2 fewer than the previous year, which affected the development of sales.
Grocery sales in June were 536.1 million euros and it decreased by 7.8 percent. In June, sales in the construction and building technology trade were EUR 396.1 million. Sales decreased by 4.0 percent and on a comparable basis it decreased by 13.9 percent. The sales of the car trade sector in June were 88.4 million euros and it decreased by 19.6 percent.
Kesko’s share price finally ended with a 3.1 percent decrease to 16.65 euros.
Ericsson announced its results
Network technology company Ericsson announced the results of the second quarter on Friday.
Ericsson’s turnover decreased by seven percent and the operating loss widened to 13.5 billion kroner from 0.3 billion in the comparison period. However, adjusted EBITDA improved to 2.426 billion kroner from 0.542 billion kroner. Ericsson’s profit figures were weighed down by write-downs of SEK 15.1 billion related to the US cloud communication service company Vonagen for acquisition. Without the write-down, the operating profit would have been 3.2 billion plus.
Ericsson’s share ended up 3.9 percent, a competitor Nokia ended up with a 1.6 percent increase.