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

The Helsinki Stock Exchange continued its downward trend on Friday afternoon, with the general index down 0.3 percent at 9,804.23 points. The most traded stocks, Fortum and InnoEnergia, were down 1.0 percent and 1.3 percent respectively.

In the afternoon, nine out of ten earnings publishers reported a decline in their share prices. At the bottom of the main list was an industrial service company Lassila & Tikanoja, whose result fell short of analysts’ expectations in the fourth half of the year, with operating profit adjusted for non-recurring items at 7.2 million euros. L&T’s share was down 9.1 percent. Meanwhile, chemical company Kemira operative EBITDA fell less than expected to 163 million euros from 177 million euros in the comparison period, with no movement in its share price since the previous day.

Trading company Stockmann reported an adjusted operating profit of 30.2 million euros in Q4, compared to 26.1 million euros in the same period last year, while its share price was down 1.4 percent. Construction company YIT’s adjusted operating profit was also in line with analysts’ expectations of 13 million euros, with their share price down by a similar margin as well. Beverage company Olvin saw an increase in its adjusted operating profit to 7

By Editor

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