Tuesday proved to be a tough day for the Helsinki Stock Exchange. The general index saw a decline, weakening by 0.95 percent from the previous day’s level. It dropped to 9683 points, signaling a slight downturn in the market.
Kemira, a top-listed company, saw its shares take a tumble. The shares fell by a notable 5.4 percent over the course of the day, settling at 16.09 euros each. The state limited company, Solidium, offloaded its Kemira ownership to institutional investors through an accelerated tender procedure. Solidium was a significant shareholder, possessing a five percent stake in Kemira’s stock. The shares were sold at a price of EUR 16.00 each before the opening of the stock market. Kemira’s closing price on Monday had been higher, standing at EUR 17.00.
Another significant change was seen in the stocks of Nordea, which saw a decrease by 0.2 percent as it closed for the day.
The third most traded company was the pharmaceutical firm, Orion. The company announced its results for the day, reporting an improvement from last year’s October–September period. The operating profit of the company rose significantly, reaching 92.9 million euros from the previous 40.7 million euros. This exceeded the expectations of analysts compiled by the Vara Research database, which had predicted an average operating profit of 72.9 million euros.
Despite the positive results, Orion’s Series B share ended the day down by 6.1 percent.
Asset manager and life insurer, Command, also released its results for the October-December period on Tuesday. Unfortunately, these results fell short of the previous year’s figures. This downturn in profit was primarily due to a decline in the result of investment activities. However, the company did report an increase in its premium result and risk life insurance result from the previous comparison period. Despite this, the company’s shares ended as the fifth most traded and closed down by 6.9 percent.
Positive news for Withsecure
Cybersecurity firm, Withsecure, which also announced its results on Tuesday, had a positive day. Contrary to market expectations, the company’s EBITDA turned positive, a big surprise for investors. This positive news saw Withsecure’s share price rise by 8.6 percent over the course of the day.
Kempowerin, a manufacturer of charging solutions for electric cars, saw its stock price rise by 5.8 percent. This made it the second most expensive stock of the day. The company is set to announce its results tomorrow, which could potentially influence its stock price further.
Several other companies, including Orion, Withsecure, Mandatum, Raisio and the Purmo Group, announced their results for the fourth quarter of last year on Tuesday.
Food company, Raisio, reported a drop in both result and turnover for the October–December period, as had been expected. The company has forecast that the comparable operating result for the coming year will be roughly at the level of 2023 or slightly above that.
Raisio’s V-series shares ended the day up by 5.1 percent.
Purmo Group, a manufacturer of heating and cooling systems, experienced a fall in turnover as expected, however its operating margin saw an increase. The company’s share price closed down by 0.3 percent.
Discount company, Tokmanni, announced during its capital market day that it would be raising its turnover target. The company aims to increase its turnover from 1.5 billion euros to 1.8 billion euros. Its comparable operating profit target, however, will remain at 150 million euros.
Following this announcement, the company’s stock closed the day up by 5.5 percent.
