The Helsinki Stock Exchange opened on Friday with a slight decline, but the trend soon turned to a clear rise. Despite some disappointing first-quarter results, several companies saw their stock prices climb. The most traded stock of the day was Nordea, which rose 1.4 percent after announcing its results the previous day. Nokia also experienced growth, up 2.5 percent even though its first-quarter figures did not meet expectations.
However, it was Elisa that gained the most during the day with a 4.4 percent increase after announcing its earnings. Although its operating profit in January-March was slightly below analyst expectations, Elisa maintained its instructions for turnover and comparable EBITDA for 2024. Other companies that announced their results on Friday were Middle Soul, Morning, and QPR Software. Alma Media’s first-quarter result was also below expectations, causing its stock to remain unchanged. Gofore had a slower first quarter compared to previous growth and profitability development, leading to a 3.9 percent decrease in stock price.
Despite these mixed results, QPR Software had a positive operating result for the first time since 2019 and closed down only 8.5 percent in stock price changes. Ponsse lowered its guidance for 2024 while Valoe secured funding for a restructuring program. Several target prices and recommendations were adjusted based on these earnings announcements and guidance updates from different companies.
Overall, the Helsinki Stock Exchange experienced a day of mixed results and adjustments in target prices and recommendations for different stocks as investors evaluated the performance of various companies in the telecom sector.
In conclusion, despite some disappointing earnings announcements from several telecom companies on Friday at the Helsinki Stock Exchange, overall performance remained strong as investors continued to evaluate potential investments in this sector closely.
