The bullish mood on the Helsinki stock exchange carried through the day on Friday, and strengthened towards the evening. The week ended in a strong uptrend.
The stock markets in other parts of Europe were also clearly on the rise on Friday.
When the stock exchange closed, the general index of Helsinki showed a 1.2 percent uphill at 10,665 points.
The stocks on the most traded list were largely green. The most traded stock was Nordea, which ended up 1.6 percent higher at 9.75 euros. Second gear Nokia closed up 1.8 percent.
Metson the stock fell the deepest on Friday by several percent, but the stock closed 0.7 percent lower. The company, which manufactures equipment for the mining and stone crushing industry, said on Friday that it will start change negotiations. According to the company, possible layoffs are planned for the Tampere factory.
According to Metso, the stone crushing market activity in Europe and especially in the Nordic countries has clearly weakened, which is reflected in the orders from the Tampere plant.
The information technology service company was also on the list of the most traded on Friday TietoEvry, which ended up 1.5 percent higher. The company published an earnings report on Thursday, based on which the company improved profitability in all its businesses in the first quarter.
Yesterday’s results announcer Digian the share price rose sharply on Friday and ended up 9.7 percent higher. The company’s operating profit (EBIT) and turnover exceeded forecasts.
Carrier Finnair rose 4.6 percent. The company published increased traffic figures from April.
Spinnova rose more than 11 percent on no news.
On Friday, six companies on the Helsinki Stock Exchange announced their results for January–March: Boreo, compound (+1,0 %), Martela, Optomed (-1,2 %), Vaisala (+1.9 %) and Brimstone.
Among the day’s results publishers, Boreo also climbed the list of risers to a rise of xx percent.
After publishing its results report late last night Cityconin the stock fell by more than seven percent in the top ranks of the calculators. Among the day’s results publishers, Martela (-4.1%) and Tulikivi (-3.8%) also fell.
Wall Street rises, local banks rocket
The US stock market opened strongly up on Friday.
A moment ago, the S&P 500 index was up 1.5 percent.
At the same time, the Dow Jones index advanced by 1.2 percent and the Nasdaq index of technology stocks by 1.8 percent.
Iphone manufacturer, technology giant Applen’s shares rose five percent after the company published good results for the first quarter. The rise pushed the Nasdaq up.
After the bump seen this week, shares of local banks were on the rise in the US on Friday. Among other things Pacwestin, Western Alliances and First Horizonin stocks plunged uphill. Packwest’s stock jumped to a record 82 percent gain. Western Alliance rose 40 percent.
Market sentiment is also strongly colored by the April labor market report, which was published on Friday.
“The stock market passed the strong employment figures with a shrug and the initial reactions were lackluster”, said OP:n senior market economist Jari Hännikäinen in his comment.
The U.S. added 253,000 non-farm payroll jobs in April, while economists’ consensus forecast was for 185,000 jobs. The previous month’s figure was revised down to 165,000 from a previously reported figure of 236,000.
In industry, 11,000 jobs were created, while the forecast expected a decrease of 5,000 jobs. The last revised reading showed a decline of 8,000.
The US central bank, the Fed, closely monitors labor market data, as it signals the effects of monetary policy tightening.
On Wednesday, the Fed announced its interest rate decision, after which the market predicted that interest rate hikes would be over this time. However, labor market data reduced expectations for interest rate cuts and strengthen expectations that the central bank will keep interest rates higher for a longer period of time. At the same time, they also point to the fact that interest rate hikes have so far not pushed the economy into recession, as has been feared.
“This labor market report is yet another indication that the Fed has not yet broken the economy,” eToron analyst Callie Cox said to the news agency Bloomberg.
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!
