A day of almost two percent decline in the Helsinki stock exchange – The general index again fell below the 10,000-point limit


The general index of the Helsinki Stock Exchange ended on Friday with a decrease of 1.97 percent to 9,969 points. A week ago on Friday, the general index closed at 9,935 points.

All the most traded stocks of the day ended up falling. In the first place of the exchange tip was Nordea , which decreased by 0.48 percent to 8.775 euros. Second most exchanged Liquid , which ended with a decrease of 3.44 percent to 44.89 euros. The third most traded share was Nokia which ended with a decrease of 1.62 percent to 4.526 euros.

Today’s better-than-expected US labor market data has shaken the market. Wall Street took a deep plunge after opening, and interest rates are rising around the world.

The Helsinki Stock Exchange also fell even deeper after the publication of the labor market data.

Steel company Outokumpu said that it plans to continue the limitation of ferrochrome production and that it will start the related change negotiations.

Outokumpu said at the beginning of September that it would delay the restart of one of its three ferrochrome furnaces after a maintenance shutdown. The reason was the exceptionally high price of electricity. According to the company, the situation in the energy market has not improved since then.

Outokumpu calls the situation very exceptional and plans to delay restarting the production of the furnace in question until at least the end of the first quarter of 2023. The change negotiations concern the entire personnel of the ferrochrome business, and the planned measures will affect a maximum of 70 people.

Deutsche Bank today lowered Outokumpu’s recommended price to EUR 6.50 from EUR 7.00, reiterating the buy recommendation.

Outokumpu’s share ended with a decrease of 2.44 percent to 3.641 euros.

Design company Ette plan told about his purchase offer on the Stockholm stock exchange from Semcon lapsed, because Etteplan did not reach a stake of more than 90 percent of Semcon’s shares in the purchase offer that ended yesterday. Swedish venture capitalist Rats made an offer for Semcon about five percent higher than Etteplan, and Etteplan did not want to increase its own offer.

Etteplan’s share ended with a decrease of 4.70 percent to 14.20 euros.

Personnel service company Eezyn The second installment of the dividend from last year’s result, EUR 0.05 per share, will be paid on October 27. The record date for the dividend is October 20. The first dividend installment of EUR 0.10 was paid in April 2022.

Eezy’s share ended with a decrease of 2.14 percent to 3.66 euros.

Specialized in financial management software Baswaren The board has today decided to apply for the termination of public trading in Basware’s shares and the removal of its shares from the Nasdaq Helsinki stock exchange list.

Sapphire BidCo Oy owns more than 90 percent of all Basware shares and the voting rights they generate, and in August it started the redemption procedure for Basware’s minority shares in order to take ownership of all the company’s issued and outstanding shares.

Basware’s share ended with a decrease of 0.25 percent to 39.60 euros.

Silver Mining Company Sotkamo Silverin the change negotiations started at the beginning of September have ended. The scope of the change negotiations included the company’s entire personnel, around 50 people. There are possible layoffs ahead.

In the change negotiations, it was agreed on the periodic operation of the treatment plant, if the company deems it necessary due to, for example, unusually high electricity prices. In addition, Sotkamo Silver has launched a program whose goal is to improve the cost efficiency of operations.

The company also announced that it has appointed I went to Määtä as its new operational manager. In this position, Määttä is responsible for the operational activities of Hopekai and is part of the Company’s management team.

Sotkamo Silver’s share ended with a decrease of 3.01 percent to 0.0612 euros.

Fellow Bank said that in September they had granted financing for 29 million euros. At the end of September, the bank’s credit portfolio totaled EUR 141.3 million. The deposit base at the end of the month was EUR 265.0 million.

Fellow Bank’s stock ended up 2.04 percent at 0.3495 with little change.

Engineering company Rhombus said that his change negotiations had ended. In the negotiations, it was agreed that the company would dismiss a maximum of 25 employees and senior employees in the Finnish units, instead of the maximum total of 30 employees in the negotiation proposal. Annual savings of around 1.5-2 million euros will be achieved with personnel adjustments.

Raute’s A share ended up down 1.07 percent to 9.28 euros with little change.

Swedish Inission kick off Enedon the redemption procedure for minority shares. As a result of the execution of the Swedish Inission’s purchase offer, Inission’s ownership in Enedo will rise to a total of approximately 95.85 percent of Enedo’s shares and the votes they produce.

According to Enedo’s press release, Inission will demand that the redemption price of the remaining Enedo shares be set at EUR 0.26 per share. Inission intends to apply for the delisting of Enedo’s shares from the Nasdaq Helsinki stock exchange list as soon as possible.

Changes from analysts

Citi fat The machine target price from EUR 47.60 to EUR 42.60, reiterating the hold recommendation. Kone’s share ended with a decrease of 2.67 percent to 39.69 euros.

Citi also fell Metso Outotec target price from EUR 10.60 to EUR 9.00, reiterating the buy recommendation. Metso Outotec’s share ended with a decrease of 3.15 percent to 7.144 euros.

The bank also fell Wärtsilä target price from EUR 8.50 to EUR 7.50, reiterating the hold recommendation. Wärtsilä’s B share ended with a decrease of 3.12 percent to 6.76 euros.

Inderes fell today To create the target price to 13.50 euros from the previous 14.50 euros and reiterated the company’s increase recommendation. Loihti’s share ended with a decrease of 3.40 percent to 11.35 euros.

OP fell today Olvin target price to EUR 38.00 from EUR 38.50 and raised the recommendation to buy level from add level. Olvin’s A-share ended up with a 1.43 percent increase to 31.95 euros.


Source: Arvopaperi by www.arvopaperi.fi.

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