At the end of the day, the Helsinki Stock Exchange, which opened close to the previous day’s closing readings on Wednesday, ended a decline of 0.7 per cent.
Of the large companies on the stock exchange, the largest calculator was a chemical company Kemira, which issued a positive earnings warning on Tuesday. In its new guidance, Kemira said that the company’s operating EBITDA was higher in the second half of 2020 than in the first half. Previous guidance expected EBITDA to decline.
Kemira’s share price strengthened by more than ten percent on Tuesday, packing 3.9 percent at EUR 13.81 on Wednesday.
Analysts adjusted their target prices and recommendations for the Kemira share after the earnings warning. ON raised the target price from EUR 14.50 to EUR 17.00, keeping its recommendation at the buy level. Inderes in turn, it raised the target price from € 13.00 to € 14.50 and reduced its recommendation from the increase level to the reduce level.
On Tuesday, less than two percent strengthened Alma Median the share price fell 0.4 percent to eur 9.50 on wednesday. Alma Media also issued a positive earnings warning on Tuesday. In its new guidelines, Alma estimates that its adjusted operating profit for continuing operations in 2020 will decrease from last year, while the company previously estimated that it would decrease clearly.
On Wednesday, Inderes raised its target price for the Alma share from EUR 8.50 to EUR 9.50, but lowered its recommendation from the increase level to the reduce level.
Of the most traded shares of the day, the largest calculator was the fuel company In this, whose share price decreased by 3.4 per cent to EUR 60.94. RBC Capital Markets on Wednesday, resumed monitoring of Neste, which it stopped last year, and set a target price of EUR 55.00 per share.
The biggest gainer in the top ten was the pharmaceutical company Orion, which rose by 2.2 per cent to EUR 37.90. Carnegie increased its target price for the Orion share from EUR 40.00 to EUR 41.00.
Among the biggest gainers on the entire stock exchange was an IT consulting company on Wednesday QPR Software, which rose by 4.8 per cent to EUR 2.20. The company announced that it has signed an agreement to sell process mining software to “one of Europe’s largest telecom operators. “However, the release did not say the value of the contract.
Maaliyhtiö Tikkurila announced on Wednesday that the company’s board of directors would recommend approval PPG Industriesin tender offer for the company’s shares. The one-off offer is EUR 27.75 per share. The Board states that it also took into account the contact with the competing offer and the value indicated in it. However, no competing bid has been announced for the company.
Tikkurila’s share price fell 1.1 percent to EUR 28.30, but remained above the offer price, indicating that investors are speculating on a competing offer.
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