Helsinki Stock Exchange Opens with Decline, Nurminen Logistics Leads in Upward Direction

On Friday, the Helsinki Stock Exchange opened with a decline. The most traded stock of the morning was the logistics company Nurminen Logistics, whose share was up 2.3 percent at 1.11 euros. From the list of the twelve most traded stocks, most were in an upward direction.

Nurminen Logistics released a press release on Friday, denying false and misleading claims made in the media about its operations in Russia. The company highlighted that the claims about transportation of copper ore to Russia, conducting huge business with the Russians, and a matter related to conservation work were inaccurate and misleading. Yleisradio reported at the end of March that Nurminen was still transporting nickel and fertilizers from Russia to Finland despite the sanctions.

Investment firms like Inderes and OP changed their recommendations and target prices for some companies on Friday, including Middle Soul, Faron Pharmaseuticals, and Martela. Other companies like Konecranes and Morning experienced decreases in their stock prices as well.

The day was relatively calm in terms of macroeconomic releases, with only a few reports published in the morning regarding agricultural producer prices and German factory orders. Later in the afternoon, information on the development of Eurozone retail trade in February was set to be released. The broad labor market report of the United States was also scheduled to be announced before the opening of Wall Street, which covers factors such as non-agricultural and industrial job increases in March.