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Helsinki Stock Exchange Opens with SSAB Down

Byeditor

Apr 2, 2024

The Helsinki Stock Exchange opened up after Easter and after trading for a while, the stock exchange’s general index was up by 0.4 percent at 9785.26 points. The most traded stock was the bank Nordea, whose share was up by 0.4 percent at 10.51 euros. Among the twelve most traded stocks, the majority were on the rise. At the top of the rise was a mining company Sotkamo Silver, with its share rising by 5.4 percent to EUR 0.09. Other companies on the rise included the IT company Tecnotree with 2.3 percent and the food company Atria with 2.1 percent.

In the downward direction was a steel company SSAB, whose B share was down by 5.1 percent at 6.52 euros. The company announced plans to build a fossil-free steel production plant in Lulea, Sweden, with an estimated investment of around 4.5 billion euros. This means that SSAB is making a large investment in Lulea, Sweden, not in Raahe, Finland. This change is considered the “third step” for Raahe. Other companies affected by market changes included discount company Tokmanni with 1.7 percent and multi-sector group Asp by 1.3 percent.

Metso and mining industry company JSC Almalyk Mining and Metallurgical (Almalyk MMC) signed a framework agreement for significant process technology deliveries to Almalyk MMC’s new copper smelter. The companies have been cooperating since 2011 to develop processes needed for mineral production and processing in Uzbekistan. Metso’s share was up by 0.8 percent at EUR 11.00.

Fuel company Liquid is undergoing a major shutdown of its refinery, which started today and is expected to last nine weeks. During the shutdown, statutory inspections, maintenance, and equipment improvements will be carried out. Neste’s share was up by 0.2 percent at 25.16 euros.

Triton Fund V-managing the companies that make up the fund and indirectly Crayfish Bidcon exercising control Triton Investment Advisers has implemented the merging of Assemblin Group and Caverion. The new group is called Assemblin Caverion Group. Crayfish Bidco owns approximately 94.39 percent of Caverion’s outstanding shares and votes.

By editor

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