Faron, a company currently facing financial problems, is witnessing a decrease in its share value once again.
On Tuesday, the Helsinki stock exchange closed at the closing level of the previous day, which was precisely 9,888 points. As Wednesday came around, the trading started off on a bearish note. In the first 20 minutes of trading, the general index dropped by 0.1 percent, bringing it down to 9882 points.
Among the dozen most traded stocks, half saw an increase. Nordea was part of the morning shift and experienced a decrease in stock value by 0.3 percent. In contrast, Fortum saw a strengthening of 0.3 percent while In this maintained its level from Tuesday.
As for the results publishers of the day, Do saw a rise in trading, and the shares of Ostrobothnia Arvo Investment Cooperative were slightly moved at the morning opening.
Ostrobothnia Arvo Sijoitusosuuskunta announced its first results for July-December. This company started trading at the Helsinki Stock Exchange’s First North marketplace last year on June 20th. From an operating profit, the company moved to a profit of EUR 1 million, compared to a loss of EUR 4.8 million in the previous period. The results for the second half of the year showed a profit of EUR 0.6 million, a significant improvement from a loss of EUR 1.6 million in the comparison period.
Robit, a drilling equipment company, released its October-December result along with the financial statements for the entire year. Although the company’s profitability improved significantly from the previous weak period, the turnover decreased. The earnings per share of the company were slightly negative, at 0.01 euros. However, the company is hopeful of better performance this year.
At one point, Robit’s share was up by 6.7 percent, making it the highest rise at the time. The second-largest increase was seen in diamonds, with the share strengthening by 3.8 percent.
Raute, a technology firm that serves the wood industry, signed a contract worth 20 million euros for the technology supply of the extension of a birch veneer factory in Latvia.
“Raute’s recently announced larger order is the fifth one in the last 12 months, increasing the total order amount to 237 million euros. Once the schedule for this order is refined, it will further support our forecasts: we estimate that it will contribute to Raute’s turnover of more than 200 million euros by next year at the latest. However, the target could possibly be achieved this year.” Married mentioned in his morning review.
On Monday, Faron Pharmaceuticals, a pharmaceutical development company, reported financial difficulties, resulting in a decline of 15.2 percent in its shares. The share price fell by 40 percent on Monday, but it increased by 4.2 percent on Tuesday.
