In the morning, the Helsinki stock exchange experienced some slight gains before shifting downward as the day progressed. The market reacted to Monday’s weaker-than-expected US industry data, leading to 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.
By 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 the sharpest drop of 2.8 percent seen in Stora Enson’s share. Wärtsilä’s share price also decreased 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. Faron Pharmaceuticals revealed a share issuance, resulting in a significant drop in its share price by 45.3 percent.
Faron aims to raise more than 30 million euros through the share offering to fund the completion of phase 2 studies on its drug. The issue is not a subscription rights offering, and the company is seeking to attract new investors to support its development goals. Additionally, accounting office Aalton Group acquired Countmaster Oy’s entire stock in a deal paid in full with cash.
Inderes analysts updated target prices for several companies, including Admicom, which saw a 4.3 percent increase in its share price. Overall, the market experienced fluctuations based on various company announcements and economic indicators.
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