Helsinki share prices recover on Tuesday after Monday's heavy falls

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Prices on the Helsinki Stock Exchange see-sawed during Tueday trading, but had turned solidly upwards by the close of business.
      The weighted OMX Helsinki 25 index, which consists of the 25 most actively traded stocks on the Helsinki Stock Exchange, was showing a gain of around 2.5% on the Monday closing figure, while the OMX All Share was up by 1.91% at 9682.55.
     
Tuesday morning opened with a further large fall to exacerbate the losses incurred on Monday, but the stock prices recovered later in the morning to recover the lost ground.
      When the news came through of the US Federal Reserve's aggressive 0.75% cut in its benchmark interest rate, made in response to an international stock sell-off and fears about a possible United States recession, things moved briskly upward.
      The decline in Helsinki that began in December has seen share prices shaved to the point where at the close on Tuesday prices were back at the level of the autumn of 2006.
     
Big gainers on Tuesday included Kone, Konecranes, and the department store chain Stockmann, who all enjoyed double-digit moves.
      Nokia shares were up by around 2.5% to EUR 21.38. The Nokia share is now worth much the same as it was last August. There were fallers, too. Amer Sports took a big hit of around 11 per cent, adding to the woes of ten days ago, when a profit warning sliced 16% of the company's value.
     
Trading in Helsinki on Wednesday saw early gains, following the example of Asian markets which were trading appreciably higher than the previous day.
      However, the mood seemed to sour during the morning and by 13:00, the OMXH25 index was down around 2.0 per cent, before a second upward trend began to take hold in the afternoon.


Previously in HS International Edition:
  Profit warning slices 16% from Amer Sports stock value (11.1.2008)
  Monday fall in share prices on Helsinki Stock Exchange sharpest in four years (22.1.2008)

Links:
  OMX Nordic Exchange

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