On Wednesday, we saw the general index of the Helsinki Stock Exchange conclude with an increase of 0.2 percent, bringing it to a total of 9904 points. This was a notable change in the trading globe.
Among the most traded stocks, the top three ended the day on a mixed note. The multinational company Nokia witnessed an increase of 0.3 percent, while the banking group Nordea experienced a decrease of 0.2 percent.
Regarding the results of the day’s publishers, Do saw a substantial increase of 6.0 percent, while on the other hand, Ostrobothnia Arvo Investment Cooperative ended the day with a significant drop of 9.0 percent.
In other news, Robit, a drilling equipment company, released their financial results for the October-December period as well as the entire year. The company’s profitability saw a significant improvement compared to the weak comparison period. However, it was not all good news as the turnover witnessed a decline. The company indicated optimism for the future, suggesting that the upcoming year will be stronger than the previous one.
In its first July-December results, Ostrobothnia Arvo Sijoitusosuuskunta reported a remarkable turnaround. The company turned its operating profit into a profit of EUR 1 million, compared to a loss of EUR 4.8 million in the comparison period. The result for the second half of the year was a profit of EUR 0.6 million, a significant improvement from a loss of EUR 1.6 million in the comparison period.
A standout performer was mechanical engineering sector firm Rhombus. The company’s shares rose 4.3 percent. This increase followed the signing of a 20 million euro contract by Raute for the technology supply of the birch veneer factory expansion in Latvia on Tuesday.
The pharmaceutical development company, Pharaoh, unfortunately, found itself in financial difficulties. The company violated the terms of the loan agreed in February 2022, resulting in the company’s creditor IPF Fund II SCA taking control of Faron’s bank accounts. This resulted in the company’s shares closing down 16.7 percent to EUR 1.65.
In other corporate news, a medical technology company, BBS-Bioactive Bone Substitutes, announced an agreement to raise an amount of 500,000 euros to strengthen working capital with RiverFort Global Opportunities PCC Ltd.
On the investment front, the Herlin family’s investment company, Holding Manutas, acquired shares of the media company Sanoman for a total of 689,728 euros.
In tech news, network equipment company Nokia announced a new cooperation with Nvidia, a company renowned for its graphics cards. This partnership aims to develop Nokia’s radio access network (RAN) solutions with the help of artificial intelligence.
In the real estate sector, investment company ovaro announced the acquisition of a real estate development site in Kuopio. The debt-free purchase price of the approximately 14,000 square meter object was EUR 2.7 million.
In the food industry, Atria announced the appointment of Meelis Laande as CEO of Atria Estonia. Laande will also join the Atria Group’s management team, starting from April 1, 2024.
