Helsinki shares AFX at a glance outlook |
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Thu, 22 Mar 2007 09:02
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HELSINKI (AFX) - Helsinki shares are expected to open higher after gains on Wall Street, with Nokia set for a positive start after number two mobile phone maker Motorola slashed its profit and sales forecasts for the first quarter and replaced its CFO, dealers said.Analysts said Motorola's problems are likely to be company-specific, rather than reflective of the health of the industry as a whole, which remains sound.Yesterday, the OMX Helsinki 25 closed 0.71 pct higher at 3,059.12 and the OMX Helsinki up 0.60 pct at 10,192.35.FORTHCOMING EVENTSTODAY-Elcoteq AGM (2.00 pm)-Finnair AGM (3.00 pm)-TietoEnator AGM (5.00 pm)TOMORROW-Iittala to join Helsinki Stock Eexchange pre-listCOMPANY NEWS-Motorola cuts full-year sales and earnings forecast; expected to post loss for first quarter; blames lower-than-forecast handset volumes, average selling prices.-Nokia's N95 handset starts shipping in key European, Asian and Middle-Eastern markets.-Elcoteq to close site in Turku and move unit's operations to Salo; confirms 84 Finnish jobs to go so far, with more to follow.MARKET SENTIMENT-Neste Oil, Fiskars trading ex-dividend.-Nokia's ADRs in New York last night ended at the equivalent of 17.09 eur, 2.2 pct above its Helsinki closing level. Motorola's profit-warning came after the US market close.-Among other Finnish shares traded in the US, Stora Enso ended up 1.0 pct at 12.97 eur, Metso up 1.5 pct at 40.42 eur and UPM-Kymmene up 1.3 pct at 19.93 eur.james.etheridge@thomson.comje/sljCOPYRIGHTCopyright AFX News Limited 2007. 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 