Helsinki Stock Exchange continues to decline, earnings reports fail to boost market

On Friday, the Helsinki Stock Exchange continued its downward trend for the week with the general index down 0.3 percent at 9,804.23 points. The most traded stocks Fortum was down 1.0 percent and In this was down 1.3 percent. Additionally, 10 companies reported their results for the week.

In the afternoon, nine out of ten earnings publishers saw a decline in their share price as Lassila & Tikanoja fell to the bottom of the main list. The company’s result fell short of analysts’ expectations by 1 million euros in the fourth half of the year, with operating profit adjusted for non-recurring items at just 7.2 million euros. Meanwhile, Chemical company Kemira met analysts’ expectations with operative EBITDA falling slightly to 163 million euros from 177 million euros in comparison period but there was no movement in Kemira’s share since yesterday.

Trading company Stockmann’s adjusted operating profit increased slightly to 30.2 million euros compared to previous year but it was still less than expected by analysts while YIT’s adjusted operating profit was also up by marginally more than expected at 13 million euros with its share also down by a similar percentage

By Editor

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