The OMXH general index of the Helsinki Stock Exchange was slightly in the red, but enough to drop the score below the psychologically significant limit.
The index was at 9,999.44 points on Friday afternoon.
Orion was in the top group of the most traded shares in the clearest decline. Orion’s more traded B share was down 5.4 percent at 44.21 euros.
The pharmaceutical company said on Thursday evening that it had terminated the ODM-111 development program for the treatment of pain, based on a risk-benefit analysis of the molecule’s safety properties in connection with long-term exposure.
“We are now focusing our resources on other promising projects in our research and development pipeline”, the director responsible for Orion’s Innovative Medicines profit unit and research and development activities Outi Vaarala comment.
The earnings season will continue, when almost twenty companies on the Helsinki Stock Exchange will publish their third quarter results on Friday.
At the top of the list of earnings publishers, the lifting equipment company had the heaviest decline Konecraneswhich reports slightly better figures than analysts’ forecasts for its profit, received orders and turnover. The share was down 4.9 percent at 62.80 euros.
According to the company, the result was supported by pricing, sales volumes and good strategy execution.
The demand environment has remained good among industrial customers and will continue to be good. Regarding port solutions, the company states that global container traffic continues at a high level, and the long-term outlook for global container handling is still generally good.
“Konecranes again made a strong result in the third quarter. This was the seventh consecutive quarter in which the comparable ebita margin increased from the previous year. Both the orders received and the turnover increased compared to the previous year”, CEO Anders Svensson comment in the results report.
Design and consulting company Solvers said that he plans to expand geographically and establish a land company in Poland. The share was up nearly five percent.
“In Poland, large-scale investments are planned for infrastructure construction and the renewal of the energy industry. Poland is emerging as the logistics center of Central Europe, moreover, a significant part of planning for the reconstruction of Ukraine will probably take place in Poland”, CEO Stefan Nyström commented in the announcement.
Health service company Health house reports on a well-run third quarter. The company raised its profit guidance. The share was up three percent.
“Our profit improvement measures have proven to be effective even during seasonally lower demand”, the company’s CEO Ville Iho commented on the last quarter in the earnings release.
Retail company Lindex Group made a weak result in July–September. It lowered its guidance for the whole year. Psake was down more than four percent.
“During the third quarter, our turnover decreased slightly in a challenging market, and the planned growth investments affected our adjusted operating result. I am very satisfied with the good progress of our strategically important and future-building development projects,” commented the company’s CEO Susanne Ehnbåge in the results bulletin.
Source: www.arvopaperi.fi
