Helsinki shares higher at midday led by industrials, Nokia little changed |
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Published
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Mon, 19 Feb 2007 11:47
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HELSINKI (AFX) - Helsinki shares were firmer in midday trade led by industrial stocks, while Nokia was little changed, traders said.At 12.16 pm, the OMX Helsinki 25 was 0.70 pct higher at 3,103.90 and the OMX Helsinki was up 0.44 pct at 10,426.41 on over 334 mln eur of turnover.Industrial stocks led the broader market into the black, with Nokian Tyres adding 2.76 pct to 19.01 eur, Metso up 2.26 pct to 39.90 eur, Outokumpu climbing 1.50 pct to 30.45 eur and Rautaruukki K advancing 2.20 pct to 37.55 eur.Nokia was little changed, up 0.06 pct to 17.62 eur, shrugging off its slightly lower ADR price on Wall Street last Friday, brokers said.In banking, OKO A -- 0.18 pct lower at 5.48 eur -- underperformed the higher market, as investors continued to sell off the shares after the company's uninspiring fourth-quarter results last week.The stock failed to benefit from an upgrade to 'accumulate' from are duce' by eQ Bank this morning. In a note to clients, the bank said OKO's fourth-quarter earnings were slightly above expectations.'The outlook for Non-life is more positive,' it said noting that Pohjola integration progressing is proceeding 'as planned'.The Nordic brokerage also raised its 2007 and 2008 pretax profit estimations by 7 pct and 1 pct respectively and raised target price to 14.00 eur from 13.50 eur.Sector peers were firmer, with Sampo A adding 0.14 pct to 21.48 eur and Nordea 1.16 pct higher at 12.25 eur.Among pulp and paper issues, UPM-Kymmene added 0.35 pct to 20.12 eur and Stora Enso was up 0.63 pct at 12.83 eur on bargain-hunting after the sector's recent losses.Energy stocks were higher amid lower oil prices, with Neste Oil adding 0.90 pct to 23.65 eur and Fortum 0.53 higher at 21.01 eur.azer.sawiris@afxnews.comafs/harCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.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
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Helsinki shares AFX at a glance outlook 