On Monday morning, the Helsinki stock exchange experienced slight gains before shifting downward as the day progressed. The market reacted to weaker-than-expected US industry data and discussions about a possible recession. Investors are anticipating monetary policy decisions from central banks this week, with a focus on the European Central Bank’s interest rate announcement on Thursday and the US employment report on Friday.
On Tuesday afternoon, the general index OMX Helsinki had fallen by 0.9 percent to 10177.44 points. The most traded stocks were all in decline, with Stora Enson’s share experiencing a sharp drop of 2.8 percent and Wärtsilä’s share price decreasing by 2.4 percent despite an increase in its target price by Goldman Sachs.
Kesko announced plans to update its growth strategy while maintaining its core principles. The company’s share price was down 0.8 percent at 16.635 euros, while Faron Pharmaceuticals revealed a share issuance that resulted in a significant drop in its share price by 45.3 percent after raising more than 30 million euros through the share offering to fund phase 2 studies on its drug. Accounting office Aalton Group acquired Countmaster Oy’s entire stock in a deal paid in full with cash, further adding to fluctuations in the market based on various company announcements and economic indicators.
Inderes analysts updated target prices for several companies, including Admicom, which saw a 4.3 percent increase in its share price after updating them based on recent developments and economic indicators.
Overall, it was an eventful day for investors as they navigated through various factors affecting their portfolios and sought clarity from central banks about their monetary policies this week.
