The general index of the Helsinki stock exchange ended on Wednesday with a decrease of 1.10 percent to 9769.34 points.
The most traded stock and topic of discussion of the day was In thiswhose share ended up falling by as much as 9.6 percent to 16.06 euros. During the day, the course briefly went down more than 10 percent.
In the morning, Neste lowered its guidelines for its renewable products. The stock started to fall immediately after the earnings warning. Since the beginning of the year, the bill has now dropped by more than 50 percent. The company’s shares were exchanged on Wednesday for 102 million euros. It was also at the top of the stock market decline.
According to Neste, the average comparable sales margin of renewable products for the whole year is 360–480 dollars per ton. Previously, Neste had instructed the sales margin to be 480–580 dollars per ton.
In the background, at least the considerable drop in the market price of diesel in the third quarter has had an effect, which also eats into the market prices of renewable fuels. In addition, the prices of their waste and residual raw materials have not decreased. The company also guided downwards the total sales volumes of renewable products.
A fair change in the outlook badly hit the confidence of the owners, even though the guidelines remained unchanged regarding oil products. In the near future, Neste will face reforms when a new CEO starts in the company, and it will significantly increase its production capacity with the expansion of the Singapore refinery and the investment in Rotterdam.
Also the other most traded in red
The second most traded stock was on Wednesday Nordeawhich ended with a decrease of 0.7 percent to 10.34 euros. Third on the list was the one with a 1.3 percent decline Nokia.
The stock market day’s biggest gainer was Springvestwhose share accelerated to a 4.7 percent rise to 7.75 euros.
Other news
US inflation figures hit the market hard. The numbers that hit the consensus forecasts mean that the US central bank Fed’s rate cut will remain at 25 basis points at next week’s meeting, as 2.5 percent inflation is not enough for the central bank, whose goal is to keep annual inflation at 2 percent. The boldest gamblers had hoped for a bigger drop of 50 basis points to revive the market.
The largest US stock indexes were down more than one percent on Wednesday evening.
Vaisala (-0.8%) says that he has made a new business deal.
According to the press release published by Vaisala, the company has agreed to buy the British company Speedwell Climate Ltd. company that specializes in weather insurance. According to Vaisala, Speedwell Climate has 24 employees in the United States and Great Britain. The company’s turnover last year was four million pounds. In its announcement, Vaisala does not say the value of the deal.
Engineering company Training (-0.2%) says that it has concluded an agreement with the Loviisa nuclear power plant for the retrofitting of turbine automation systems and the delivery of a training simulator.
According to the press release published by Valmet, the orders have been recorded in the company’s order book for the second quarter. The value of the deal was not disclosed.
Pharmaceutical company Orion raises its guidance regarding turnover and profit for the current year. View ratings include one Nubeqan the stage payment related to the sale.
“Orion’s product sales and royalty income have continued to grow faster than expected in the second half of 2024, and this good development is expected to continue during the rest of the year,” the company’s press release says.
The turnover is estimated to be 1,470–1,510 million euros and the operating profit 370–400 million euros. The previous estimate was 1,440–1,480 million and 350–380 million.
Orion’s share has not been boosted by the positive warning. The price of the most traded B share fell by 2.8 percent on Wednesday.
SEB has raised Mandatum target price to 4.70 euros from the previous 4.30 euros. The recommendation rises to the buy level from the previous hold level.
Mandatum rose by 0.7 percent on Wednesday.
Source: www.arvopaperi.fi
