On Tuesday, the Helsinki stock exchange saw fluctuations as both the rise and fall of more than one percent were recorded. The general index OMX Helsinki ended the day with a decrease of 0.9 percent, closing at 10179.74 points. Investors have been feeling nervous due to upcoming economic statistics and central bank meetings scheduled for this week and next. Concerns about weaker than expected US economic growth and persistent inflation slowing the expected easing of monetary policy have been weighing on investors’ minds.
This week, investors are particularly focused on the European Central Bank’s interest rate decisions on Thursday and the US employment report on Friday. The most traded shares on the exchange were mostly down, with Stora Enson’s shares seeing the steepest decline of 3.6 percent. On the other hand, Orion’s share saw a jump of 1.4 percent.
Faron Pharmaceuticals, a drug development company, announced a directed public offering and an institutional offering, causing its share price to fall by 44.2 percent as investors digested the terms of the offering. The company needs funding to complete phase 2 studies of the blood cancer drug Bexmarilifab. Exel Composites also concluded a share issue with subscription rights on Monday, and trading for this ended with the price difference between old and new shares persisting.
Trade group Kesko announced plans to update its growth strategy, while health technology company BBS saw a rise in its share price after a supplemental patent application related to its Artebone product was accepted in the United States
