Mixed Signals on the Helsinki Stock Exchange: Dividend Payments Drive Downturn while Woodjoy and Pallas Air Surge

On Thursday, the Helsinki Stock Exchange experienced a downturn, with several companies announcing dividend payments. The general index fell by 0.5 percent to 9,747 points, with the most active shares recording a decline. In particular, Nordea rose 0.2 percent, while Sampo fell 1.9 percent after the dividend was removed, causing a 2.4 percent decline in its share price.

Jefferies lowered Sammo’s target price to €38.00 from €38.50, maintaining a hold recommendation. In addition to Sampo, dividends were also removed from other companies such as Neste, CapMan, Detection Technology, Innofactor and Konecranes. Neste has announced a phased shutdown starting April 1 for nine weeks of maintenance and improvements.

Woodjoy experienced a significant increase in its stock value on Thursday, rising by 8 percent after posting positive results and predicting strong growth and improved profitability in the future. Puuil’s price target was raised by several companies to an increase or buy level following its strong performance last year.

Tecnotree announced a global cost efficiency program that is expected to deliver annual savings of 5-7 percent by 2025 through various measures such as network optimization and energy efficiency improvement programs.

Rush Factory reported reduced EBITDA loss compared to the previous year due to successful implementation of cost reduction initiatives and improved revenue streams.

Kesco continued its strategic investment in the grocery chain by acquiring two properties in Finland and Russia.

Outokumpu reported a negative impact on adjusted EBITDA due to political strikes that disrupted production operations in Finland.

Pallas Air saw a significant increase in its share value on Thursday following increased demand for air travel services during the pandemic.

Middle Soul reported staff reductions following changeover negotiations with new management at the company.

These developments highlighted the fluctuating dynamics of the stock market on Thursday as investors navigated various challenges facing different sectors of the economy.