A Positive Start to the New Semester: Helsinki Stock Exchange Performance

The new semester began on July 1st with a positive outlook and a 1.4 percent rise in the general index of the Helsinki Stock Exchange, ending at 10,076.34 points. The most traded stock of the day was Nordea, with almost 70 million shares exchanged. Its share price saw a 2.7 percent increase, while Kovi and Nightingale Health faced declines of 12.2 percent.

Nokia announced its plans to produce its first tire in a new factory under construction in Romania. The project is currently on schedule, and commercial tire production is set to begin in early 2025. The new factory is expected to employ around 500 people and have a production capacity of six million tires. This news led to a 2.1 percent increase in Nokia’s share price following the announcement.

Orion raised its guidance for turnover and operating profit due to a co-development agreement with MSD that released 60 million euros from their balance sheet, positively impacting their financial results. The company’s shares rose by 4.0 percent after this update was made public.

Afarak forecasted a decline in EBITDA and turnover for the first half of 2024 compared to the previous year, resulting in an 8.0 percent drop in their share price