Helsinki shares close lower led by Elisa, Uponor UPDATE

Helsinki shares close lower led by Elisa, Uponor UPDATE

	Published : Thu, 08 Feb 2007 18:28 By : Agencies Print this Story

(updates with full report)

HELSINKI (AFX) - Helsinki shares closed lower on widespread profit-taking after recent highs, with Elisa and Uponor leading the decliners after both companies issued a gloomy near-term outlook, traders said

The OMX Helsinki 25 closed 0.68 pct lower at 3,020.64 points and the OMX Helsinki down 0.67 pct at 10,126.99 points. Volume was just short of 1.8 bln eur.

Elisa fell 4.12 pct to 22.82 eur after the telecom operator's consensus-beating fourth quarter numbers were tempered by a warning of a drop in earnings in the first half of this year.

A dealer at a Nordic brokerage said the numbers were 'solid' but the guidance a 'little cautious'.

Peer TeliaSonera put on 0.65 pct to 6.19 eur.

Uponor, which makes plumbing and heating systems, was the biggest heavyweight faller, losing 7.12 pct to 27.15 eur, after warning that it faces a difficult spell in the US amid a downturn in building activity there.

Construction firm YIT added 1.98 pct to 21.59 eur and Neste Oil closed down 0.85 pct to 23.40 eur ahead of their October-December reports, both due out tomorrow before the market opens.

A consensus estimate from Thomson Firstcall puts Neste's quarterly EPS at 0.33 eur, with the range wide at 0.22-0.65 eur. That compares with an EPS of 1.11 of a year earlier.

Nokia fell 0.59 pct to 16.85 eur, Metso 1.63 pct to 39.29 eur, UPM-Kymmene 1.28 pct to 20.05 eur and Sampo 0.89 pct to 21.26 eur.

Iranian entrepreneur Robert Tchenguiz has sold a 9.5 pct stake in Finnish insurer Sampo to Icelandic financial services group Exista for about 1.2 bln eur, dealers said.

Sampo said in a bourse filing Exista's holding has risen to 15.5 pct.

Rautaruukki bucked the trend, adding 2.44 pct to 34.41 eur and extending yesterday's sharp fourth quarter-inspired gains.

Elsewhere, media and publishing group Sanoma WSOY dipped 1.29 pct to 22.20 eur after quarterly earnings just missed expectations, while Stockmann fell 0.88 pct to 36.24 eur.

james.etheridge@afxnews.com

je/cml

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited