The Helsinki Stock Exchange opened in the morning down 0.8 percent. The decline did not intensify during the day, but in the last moments, the desire to sell intensified.
The general index describing share price development ended at 9,887.7 points, i.e. 1.4 percent lower than yesterday’s closing reading
The top of the most traded shares went down. For example, a bank Nordea ended with a decrease of 2.3 percent to 10.44 euros, network manufacturer Nokia With a slide of 2.1 percent to 3.85 euros and an oil refiner In this fell 4.6 percent to 18.26 euros.
The US Department of Labor published its monthly employment report, which did not bring clarity to the assessment of the Federal Reserve’s monetary policy.
At the time of the closing of the Helsinki Stock Exchange, the main stock indices of the New York Stock Exchange were down: Dow Jones by 0.8, S&P 500 by 1.5 and Nasdaq by 2.2 percent.
There was a lot of different news about Finnish listed companies, some of which had an impact on the development of share prices.
Citycon sold the center from Norway
Real estate investment company Citycon said that it is selling the Trekanten center, which is located in Oslo. According to the company, the gross purchase price is approximately NOK 1,325 million, or approximately EUR 112 million.
The purchase price is close to the center’s fair value according to IFRS, excluding the value of the building rights, the release states. Citycon estimates that the deal will be completed by the end of September.
The transaction is part of the company’s goal to sell properties worth around EUR 350 million by the end of this year. Cityconin the funds obtained from the sale are intended to be used to reduce the amount of the debt.
The company’s share price started to rise after the news. At the end of the day, the share gained 2.0 percent to 4.24 euros.
Two changes to the instructions
Real estate investment company Housing portfolio and a manufacturer of baling nets and twine Beep changed their instructions today.
Asuntusalku’s share rose 2.6 percent to 80.50 euros. Piipo’s share price did not change. The share was traded for only 438 euros.
The real estate investor raised the guidance range for its turnover for the fiscal year ending on September 30 to 19.5-20.5 million euros from the previous 17.5-20.0 million euros. The guideline for the realized profit for the financial period remains at 0.3–1.0 million euros.
The withdrawal was justified by the fact that in the current fiscal year, the company has sold more apartments in connection with the development of the Tallinn portfolio than expected and with higher than expected sales profits.
According to Piipo’s preliminary figures, this year’s turnover will be around 13.0–13.5 million euros, while previously it was indicated that the turnover would improve from the comparison period. Last year, turnover was 15.1 million euros.
Otherwise, the instructions remained unchanged. The company estimates that the operating result will improve and the comparable operating loss will decrease from last year.
Tecnotree’s information session did not bring clarity
Delivering IT solutions to operators Tecnotreen the stock flickered green and red during Friday.
In the morning, the company updated its outlook for next year, but there was no change to this year’s outlook.
The company expects its fixed asset investments to be 10-12 percent in relation to its sales and the free cash flow to be more than three million euros. The company plans to distribute a dividend of 10 percent of the free cash flow.
Until mid-afternoon, the stock was rising, but over the course of the day, the stock began to fall. It finally ended with a 6.9 percent decrease to 3.87 euros.
The company organized an information session for investors, which did not provide significant new information on the questions investors were concerned about.
Analysis house Inderes doubts were previously raised on the forum about the company’s business deal, where the products and personnel of an Indian startup called Pericius were transferred to Tecnotree.
Pericius’ background is the chairman of the board of Tecnotree Neil Macleodin long-term partner and CEO Padma Ravichanderin of a boy Kartik Ravichander startuphautomo.
The payment of the subscriptions of the convertible bonds issued by the company last year is also ambiguities.
Busy news day
Numerous companies announced various events. For example SRV said that he had signed the contract concerning the Laakso joint hospital, the value of which is approximately EUR 183 million, and SRV’s share is approximately EUR 174 million. The order is recorded for September.
Carrier Finnair announced that the number of passengers increased by 9.5 percent in August and the kilometers traveled by 9.3 percent compared to August last year. There were a total of 1,062,400 passengers on Finnair flights.
Private health service company Health house buy the one operating in Åland City doctors Mariehamnin stock trading. According to the release, Cityläkarna’s turnover last year was around three million euros. Terveystalo’s turnover was a good 1,286 million euros.