STOCK EXCHANGE: Prices recover after a hard week – Extraordinary fluctuations in Fortum’s share

The stock market was on a strong upswing on Friday after falling earlier in the week. In Helsinki, the OMXH general index ended up rising by 2.3 per cent.

Energy company Fortumin the exchange rate continued on Friday, this time upwards. The share was at the forefront of the stock exchange’s trade, rising by as much as 11.1 percent.

Fortum’s share has been exceptionally volatile in recent days. The stock rose 7.2 percent on Wednesday before Thursday’s earnings announcement. After Thursday’s result, the share fell 5.2 percent yesterday. The share price was boosted on Friday by several increases in analysts’ target prices following the announcement of earnings.

Of the other most traded shares, forestry companies Large and UPM ended up declining, others clearly rising. Nordean the share price rose 2.2 percent and Nokia exchange rate 3.8 percent.

Favorable reception for earnings announcements

Brand company Marimekko reports strong first quarter results. The company’s adjusted operating profit rose to EUR 6.6 million from EUR 5.6 million in the comparison period. The earnings growth came as a surprise, as analysts following Marimekko expected the earnings to decline. Customer flows in stores clearly increased from the comparison period. At the end of the day, Marimekko’s share was up 7.1 percent.

Car dealership Kamux reports lower-than-expected adjusted operating profit in the first quarter. Kamux sold about four percent fewer cars in the first quarter than a year earlier, which was CEO Even Juha Kalliokoski according to disappointment. Kamux’s share price rose 0.3 percent.

Gaming company Remedyn net sales and earnings grew more than expected, and the company says game development is progressing well on schedule for various projects. Remedy’s share price had risen 6.0 percent by the end of Friday.

Infrastructure and special builder SkartaNyab increased its turnover to a new size category and finally issued guidelines for the current year. The company also updated its financial targets following the merger of Skarta and Nyab. The stock ended up rising 2.5 percent with a small turnover.

Food company Raisio was able to sell its consumer business in Russia Copacker Agrolle EUR 1.5 million. Raisio offsets a loss of EUR 3.6 million from the transaction. The price ended up 1.7 percent.

Witted has a weak stock market start

An IT service company that started on the First North list on Friday Witted Megacorpin The price ended on the first trading day at EUR 4.95, 11.3 percent below the subscription price of EUR 5.58.

Energy service company Enersense said the subsidiary Megatuulen concluded a cooperation agreement with the French Valoremin with. The companies aim to develop 1,500 megawatt hours of wind power projects in Finland by 2025. According to Enersense, achieving this goal would mean more than EUR 1.5 billion in new investments in Finland

The cooperation agreement is for three years and covers, in addition to the development of new wind power projects, joint wind power projects already under way. Enersense’s share price rose 5.5 percent on Friday.

Restaurant company Well was seen on Friday in an ownership arrangement. Noho Partners’ management and domestic investors will acquire From Finnish Industry Investment the company’s convertible loan and convert it into new shares in the company. Pertti Laine indirect holding Veikko Laine Oy at the same time rose to more than 10 percent of Noho’s share capital. Noho’s share price rose by 2.2 per cent to EUR 8.00. Investors and Noho’s management had converted the loan into shares at a subscription price of EUR 8.03.

By Editor

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