Stock Market News: Helsinki Stock Exchange Opens Up 0.1%, with Valmet Rising Despite Earnings Warning

The Helsinki Stock Exchange opened on Friday with a gentle 0.1 percent rise, bringing the general index to 10,128 points. In the most traded stocks, Nordea had risen by 0.6 percent, while another stock saw a 0.3 percent increase.

The morning saw some target price increases in the engineering workshop sector, particularly for Valmet. Although Valmet had reported a positive earnings warning the day before, it was the second most traded stock of the morning and rose by 0.4 percent. Inderes raised Valmet’s target price from EUR 29.00 to EUR 28.00, keeping their recommendation unchanged. OP also raised Valmet’s target price to EUR 30.00 from EUR 28.50, with the buy recommendation remaining the same and Nordea raised Valmet’s target price to EUR 32.00 from EUR 29.00 with a buy recommendation unchanged as well .

Valmet’s share price had reacted strongly to the positive earnings warning, with analysts mentioning a significant number of short-sold positions as a key factor but also highlighting that stabilization of Valmet’s operational environment in certain customer sectors such as chemical forest industry was seen as positive .

In other news Evli upgraded Etteplan’s recommendation to buy level from hold level and kept their target price at euros 14,5