The Helsinki stock exchange fell due to the strength of Nokia, UPM and Kone


The Helsinki Stock Exchange ended in the red on Thursday. The OMXH general index finally fell by 1.1 percent to 10,167.55 points.

Elsewhere in Europe and the USA, the decline was also progressing, as investors weighed the abundant supply of central bank policy. The Fed and many other central banks have raised interest rates to fight inflation, even as a recession knocks on the door. The stock markets have reacted, especially the US central bank The Federal Reserve to Wednesday’s policy rate hike.

The stock market was weighed down by a technology company Nokia a forest giant UPM-Kymmene and elevator manufacturer Kone .

The most traded on the Helsinki stock exchange was once again an energy company struggling with its Russia risks Fortum . In the end, the share rose 7.9 percent to 14.30 euros. The rise was a continuation of the previous day’s 9.5 percent gain, which was the result of Fortum’s agreement with the German government.

The parties agreed that the German state would buy it from Fortum Uniperin the shares for half a billion euros, in addition to which Fortum would be getting back its loan of four billion euros and would be released from the guarantee of another four billion euros. The sale of Fortum’s Russian operations is still in progress.

Fortum’s share is still down about 50 percent over the course of the year. The risks of the energy company and the failure of risk management are weighed and the laundry is washed by different parties. The company’s management admits that strategic mistakes were made and it was believed that Russia would act rationally. Among others, the general public wonders about the CEO Markus Rauramon statement that the company did not consider it possible that there would be a war in Europe and that Russia would use energy as a weapon. Before his CEO role, Rauramo was Fortum’s CFO and also in other roles.

Looking at the period of the year, the analysts who follow Fortum have failed to assess the direction of the company’s stock. Now several analysts have again updated their recommendations and target prices for the energy company. Bloomberg’s according to the average of the target prices given to Fortum is 16.31 euros.

A technology company Digitalist Group lowered its guidelines for EBITDA. The new guidance is that in 2022, turnover is expected to develop positively and EBITDA is expected to remain at the same level compared to 2021. The previous guidance was that in 2022, turnover and EBITDA are expected to develop positively compared to 2021.

Digitalist Group’s share fell by 0.9 percent to 0.0224 euros with little change in euros.

Inderes fat Alexandrian target price to EUR 7.00 from EUR 7.50, reiterating the reduce recommendation.

DNB raised Cargotecin target price to 42 euros from 36 euros, reiterating the buy recommendation.


Source: Arvopaperi by www.arvopaperi.fi.

*The article has been translated based on the content of Arvopaperi by www.arvopaperi.fi. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!