Helsinki Stock Exchange sees decline, Kesla announces job cuts, and Componenta secures new loan

On Thursday, the Helsinki Stock Exchange experienced a decline following the ECB’s interest rate meeting. The OMXH general index dropped by 0.2 percent to 9,924.63 points. Among the most traded stocks were Fortum (+2.3%), UPM (+0.7%), and Sampo (+0.5%), while losers included Training (-2.7%), Elisa (-1.3%), and Nordea (-1.6%).

Manufacturer of forest machine parts, Kesla, announced that it would initiate change negotiations affecting the entire staff. The company aims to cut costs by around 30%, potentially resulting in the dismissal of up to twenty-five employees or pension arrangements. The company’s share price closed at 4.04 euros, reflecting a 1.9 percent decrease due to these changes in the workforce management practices at Kesla Company headquarters in Finland

Measurement technology company, Vaisala, reported a significant drop in turnover for the first quarter compared to the previous year, despite this they maintained their financial guidance for 2024 . Vaisala’s preliminary turnover for January-March was 112 million euros, down from 132 million euros in the same period last year due to strikes in Finland and ERP system implementation..

Contract manufacturer for the engineering industry, Componenta, secured a new working capital loan worth two million euros from Near Tapiolan and pension company Elon