The Helsinki Stock Exchange ended on a decline on Friday as the market reacted to the hotter-than-expected US labor market report. The OMXH general index saw a decrease of 0.27 percent, closing at 1,0187.10 points. Some of the most traded shares saw an increase, including In this (+0.6%), Kone (+0.5%), and Roots (+0.5%). However, shares like Nordea (-1.0%), UPM (-0.6%), and Training (-2.0%) ended up on the decline.
Materials technology company Betolar announced the conclusion of its change negotiations, resulting in 13 job cuts in Finland. The company initially estimated a need to reduce up to 20 positions. Betolar’s stock price fell by 1.6 percent to 1.25 euros. One of the biggest gainers of the day was conglomerate KH Group (+16.8%), which sold construction consulting specialist HTJ’s XPartners Finland Holding for EUR 23 million.
Another company that performed well was pharmaceutical technology company I Don’t Like It, which saw a 30.0 percent increase in its stock price after signing a contract with neuromodulation company Sinaptica Therapeutics in the field of Alzheimer’s disease treatment. Construction company YIT also ended the day with a 4.3 percent increase in stock price.
In terms of analyst recommendations, Inderes upgraded Springvestin to an increase level from its current decrease status and raised the target price to 6.20 euros. Componentan was also upgraded by Inderes to the add level and had its target price raised to 3.60 euros. Finally, Carnegie Group announced that it would no longer be monitoring shares of Musti Group.