STOCK EXCHANGE: Helsinki opened briskly – Fortum, which made write.downs in Russia, is declining

Asian stock markets moved cautiously on Tuesday to levels close to the previous day. The Saints have limited trading volumes and the mood in the market will have to wait before the US Federal Reserve’s interest rate decision will be announced on Wednesday.

In Helsinki, the stock exchange’s OMXH general index rose by one per cent after the stock exchange opened.

The majority of the most traded shares were clearly on the rise. At the exchange tip Nokia was 0.8% and Nordea 1.9 percent uphill.

Electricity company Fortumin the share was down 0.8 percent. The company said in the morning it would make write-downs of EUR 2.1 billion related to its business in Russia. After the write-downs, the net value of Fortum’s holdings in Russia is EUR 3.3 billion.

Engineering works Metso Outotec said in the morning of a delivery of € 11 million to Africa. The company supplies electrolytic recovery technology for the production of cathode copper. The stock was up 1.5 percent in the morning.

Inflation is again the number one theme in the day’s results

In the morning, the results were announced by the meat company Atriafood company fuck and a manufacturer of electronic products Enedo.

As expected, Atria’s result weakened due to strong cost pressures. The exceptional inflation situation in the company is felt sharply, and price increases have only been partially passed on. After the stock exchange opened at the closing level of the previous day, the share traded slightly.

Fodelia’s turnover developed well, supported by ready-to-eat food manufacturer Feelia. Sales to the care sector developed well, and new customers should support future growth. Fodelia’s result narrowly pinched the victory. Fodelia’s share price rose 1.4 percent.

Enedo’s losses shrank, but component shortages and the financial situation challenged the company. The company still did not provide guidance for this year. Enedo’s share price was 1.6 percent uphill.

Energy service company Enersense announced new long-term financial targets. The company aims for a turnover of EUR 500 million and an EBITDA of EUR 100 million by the end of 2027. The company’s previous financial targets are from February last year. At that time, the goal was a turnover of EUR 300 million and an EBITDA margin of 10% by 2025. Enersense’s share price rose 2.4 percent.

Yesterday’s earnings announcement My Savings Bank continued to rise at the top of the stock market with a 3.5 percent rise. Inderes raised the target price of the share from EUR 20 to EUR 22 and reiterated the buy recommendation.

By Editor

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