At the end of Friday, the general index of the Helsinki Stock Exchange, OMX Helsinki, was up 0.9 percent at 10,125.54 points.
Investors anxiously awaited the President of the US Federal Reserve this week Jerome Powellin speech at 17:00 Finnish time at the Jackson Hole conference of central bankers in Wyoming, USA. Powell seemed to give the green light to interest rate cuts in September and said inflation was well on its way to the bank’s target level. The speeches caused a rise in almost all stock exchanges.
Among the most traded shares in Helsinki on Friday, Nordea was up 1.0 percent and Sampo was up 0.5 percent. Nokia’s share rose 0.5 percent.
Profit warning and fur shops
Car dealer Weather calculated its financial guidelines for 2024 on Friday.
Wetter’s previous instructions included business arrangements and their impact on profit and turnover. According to the company, the realization of the profit and turnover effects will be shifted over time.
“The profitability of Wetter’s operations has been affected by the historically weak market situation for new cars, which turned out to be more difficult than expected,” the company says.
According to the new guidelines, the company estimates that its turnover will be 520–640 million euros and adjusted operating profit 12.8–15.6 million euros this year. The previous range for turnover was 660–800 million euros and for adjusted operating profit 19–23 million euros.
Wetter’s share was down 2.4 percent.
A fur company Saga Furs announced that it will close its Danish and Dutch subsidiaries. The company is adjusting its corporate structure and expenses to meet the declining production volumes.
Saga Furs A/S and Saga Furs Holland BV will be closed at the beginning of 2025. There is no more fur production in these countries.
The Saga Furs share was up 1.1 percent.
Lifeline SPAC I:n The shares were block traded on the Helsinki Stock Exchange on Friday morning.
In the block, a total of 80,000 shares changed hands at a price of EUR 12.45 per share. Therefore, the total value of the transaction will be 996,000 euros.
The shell company Lifeline SPAC finally found a partner at the beginning of July, when the nanotechnology company Canate will be listed on the First North list of the Helsinki Stock Exchange around mid-September.
Aamu’s results publishers are growing well
Among the results announced this morning, the treasurer United Bankersin turnover increased to 33.0 million euros in January–June from 24.7 million euros in the comparison period a year ago. The company’s successor, Inderes, had forecast a turnover of EUR 32.0 million.
In March, United Bankers sold one of its forest funds to a German insurer Munich Ren for the asset management unit. Out of a total of EUR 18 million in profit commission, EUR 10.6 million was recorded in the net income of the first half of the year. UB’s guided operating profit improved in the first half of the year to 13.8 million euros from 7.0 million euros, while Inderes’ forecast was 12.5 million euros.
United Bankers shares were up 2.4 percent.
Automation and software robotics service company Digital Workforce grew profitably in April–June. Turnover increased by 14 percent from the comparison period and the operating profit swung to the plus side. The new sale accelerated the growth of the continuous billing services and healthcare business area.
Digital Workforce’s stock was up 4.5 percent.