HEX (Helsinki) Market Overviews
Helsinki Stock Market Overview30/01/2006-02/02/2006
Week 5 was not so active for the Finnish Stock Market. OMX indices have not increased significantly. However, many small companies with a turnover less than half a million saw an increase in a share pric abouve 5%.
Basware Corporation (BAS1V) is a profitably growing international software company that develops leading-edge software that automates financial processes of large organizations. It showed on of the most noticable growth in a share price at the beginning of the week – 14.52%. The reason might be an acquisition of the entire share capital of Analyste Corporation. The acquisition strengthens BasWare's position in Finland and extends the product portfolio to cover, for example, payment software. After the acquisition, BasWare's total net sales are expected to grow approx. 45 percent in 2006 and operating profit is estimated to be more than 15 percent of net sales.
Fortum Corporation (FUM1V) is a Nordic energy company offering electricity, heat, operation and maintenance, as well as related services. Because of the financial statements publication on the February 3, 2006, its share price suddenly went up by 5.17%. This stable company has increased its profit by ~30% and broadly expanded in Poland and Russia. Both the company’s operating results and cash flow from operating activities improved.
Evox Rifa Group Plc (ERG1V), the largest manufacturer of capacitors in the Nordic countries and the fifth largest in Europe, was removed to the cent shares - list as of 1 February 2006. This led to a significant decline in its share price of 12.5%. However, in numerical terms, it is only from 0.08 EUR down to 0.07 EUR. In fact, over the week the price changed in such way at least 5 times. 2005 financial statements of Evox Rifa Group are to be published on March 1, 2006.
TJ Group Plc (TJT1V), company that designs and manufactures digital document and business management systems solutions, once again has the biggest decline in its share’s price, -18.18%. On January 26 the decision of the Helsinki District Court concerning the share issue and sales of TJ Group Plc in the year 2000 was made. The CEO of the company and the Chairman of the Board were sentenced to 40-day fines. However, other charges concerning security market information offenses have been rejected and the state now is obligated to pay the legal expenses of TJ Group Plc. On February 1 the company was notified that the State Prosecutor is discontent with Court’s decision and has decided to appeal to the Court of Appeal.
ByInga Gorbunova
Kristine Grecuhina
Jekaterina Jaroslavceva
