The Helsinki stock exchange started the morning positively, but by afternoon, the market sentiment had turned bearish. This was due to weaker-than-expected data on US industry, which raised concerns about a possible recession. Typically, weak economic indicators lead investors to anticipate central banks easing monetary policy, which is usually positive for stocks.
As investors awaited important decisions from the European Central Bank on Thursday and the US employment report on Friday, the general index OMX Helsinki decreased by 0.9 percent to 10177.44 points by Tuesday afternoon. All of the most traded stocks were down, with Stora Enson’s shares experiencing the steepest decline of 2.8 percent.
Goldman Sachs raised Wärtsilä’s target price but maintained a sell recommendation as the share price dropped by 2.4 percent. Kesko announced plans to update its growth strategy, causing its share price to drop by 0.8 percent. Faron Pharmaceuticals decided to issue shares, leading to a significant decrease in their share price as the market price of their shares was noticeably higher than their future subscription price contingent on raising at least 15 million euros in gross proceeds and seeking an ideal partner from a larger pharmaceutical company.
Accounting office Aalton Group acquired accounting firm Countmaster Oy outright but kept the purchase price confidential while Inderes reiterated its add recommendation for Admicom after raising its target price above previous levels. Overall, fluctuations throughout
