The Helsinki Stock Exchange’s main index ended on Friday down 0.8 percent to 9,780.28 points. There were many earnings announcers among the losers, although a couple of companies managed to positively surprise investors.
The biggest decliner of the day had ended up with an 11.8 percent decline Finnairwhose second quarter result clearly fell short of analysts’ expectations.
Having started as CEO of Finnair in April Turkka Kuusiston according to the report, the decrease in operating profit was influenced by, among other things, the decrease in unit revenues, i.e. the number of passengers and revenues relative to flight kilometers, which has negatively affected the company’s profitability.
At the press conference, Kuusisto emphasized that the operating result of last year’s comparison period was record high due to pent-up demand.
Finnair repeated its previous guidance, according to which the total annual capacity will increase by 10 percent during the current year. Based on the price reaction, this is not enough for investors.
Earnings publishers a fragmented check
The lift company was also disappointing Kone, who updated his outlook for the current year downwards in connection with the results announcement. The price of the machine ended with a decrease of 1.0 percent.
Among the results publishers, they also ended up on the bill Nokia tires (-2.4 %) and Lindex Group (+0,5 %).
The biggest gainer of the day was an accounting firm Talenomwhich increased by 8.4 percent with a turnover of 390,200 euros after the announcement of results.
Talenom’s profit figures exceeded the consensus forecasts of two analysts, albeit relatively mildly. However, the improvement in profitability is a sign that the efficiency is working.
Those announcing results also made an effort to rise Consti (+5,8 %), Wärtsilä (+1,2 %), The Bank of Åland (0.6 %) and Lifeline Spac I (+0,9 %).
Lifeline Spac announced at the beginning of July that it will merge with the deep technology company that manufactures carbon nanotubes Canatun with. In connection with the results report, the CEO Tuomo Vähäpassi considered the merger very likely to go through.
Analysts liked F-Secure’s result
Among the previous day’s earnings announcements, there was a strong rise F-Secure, which ended up 6.1 percent higher. F-Secure’s target price rose after Thursday’s results Carnegie Groupilla From 2.80 euros to 2.90 euros and SEB Bankilla From 2.20 euros to 2.30 euros. SEB raised its recommendation to a buy level from a hold level, Carnegie repeated the buy recommendation.
On Thursday, he also reported the result Nokia said on Friday afternoon that he would speed up the buyback of his own shares.
According to Nokia’s updated buyback program, the company will spend a maximum of 600 million euros on purchases this year, while the previous limit was 300 million euros. Quantitatively, the company can now buy a maximum of 400 million shares, while the previous limit was 200 million.
Nokia ended up down 0.8 percent on Friday, and the stock was the most traded on the Helsinki Stock Exchange for the second day in a row. On Thursday, Nokia was traded for 134.5 million euros, on Friday for 70.3 million euros.
Source: www.arvopaperi.fi
