The stock of Nokia, which issued a profit warning at the weekend, has become more expensive on Tuesday.
Helsinki the stock market's year 2024 has started with a clear rise. The stock exchange's general index OMXHPI was up about 1.3 percent after the first trading hour. By 2 p.m., the rise had calmed down. At that time, the index was up by about 0.8 percent.
The OMXHPI fell by around 6.4 percent last year, but at the end of the year, the Helsinki Stock Exchange started a strong upward trend. The general index has risen by approximately 13.4 percent since October 23.
Stock exchange the most traded stock during Tuesday was Nokia, which issued a profit warning at the weekend. The network equipment manufacturer said on the night between Friday and Saturday that it will not reach its 2023 profitability goal.
The profit warning is due to the fact that Nokia has not succeeded in negotiating new patent licensing agreements with the Chinese mobile phone manufacturers Oppo and Vivo.
For example, the analysis company Inderes estimated in its comment published on Tuesday that “the profit warning can further weaken investors' confidence in Nokia's development”.
On Tuesday, however, the stock opened to a clear rise. At 11 o'clock, the share was up more than 1.7 percent. At 2 p.m. the rise had calmed down to 1.3 percent.
On Tuesday at 2 p.m., Mandatum was the biggest gainer with a 3.7 percent increase, Metsä Board's share was up by about 3.6 percent, and Telia's share was up by about 2.6 percent.
Year started with rising signs also in the major European stock exchanges, but during Tuesday the rise turned to a decline. For example, the Dax index of the Frankfurt Stock Exchange was on a 1 percent rise on Tuesday morning, but at 2 p.m. the index was down 0.1 percent. The broad European Stoxx Europe 600 also opened with an increase of more than 0.7 percent, but in the afternoon the index was practically at the level of Friday's closing price.
#Investment #Helsinki #Stock #Exchange #opened #strongly #Mandatum #rise
