Finland's main market closed higher on Thursday, with the OMX Helsinki 25 finishing the session up 1.44% as gains in the Oil & Gas, Telecoms and Utilities sectors supported the advance.
The market's largest positive contributors included Neste Oyj (HE:NESTE), which climbed 9.76% - an increase of 2.48 points to finish at 27.89. Nokia Oyj (HE:NOKIA) added 4.48%, rising 0.31 points to close at 7.14, while Fortum Oyj (HE:FORTUM) was up 3.57%, or 0.73 points, ending the day at 21.18.
On the downside, Nokian Renkaat Oyj (HE:TYRES) fell 3.00%, a decline of 0.29 points to 9.37 at the close. Outokumpu Oyj (HE:OUT1V) lost 2.30%, or 0.12 points, to end at 4.93, and SSAB AB B (HE:SSABBH) dropped 1.88%, a decrease of 0.13 points to 6.80.
Market breadth showed a peculiar distribution: "Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 85 to 85 and 20 ended unchanged." The distribution indicates a mixed participation across listed names despite the headline index gain.
Certain individual shares also reached notable milestone levels during the session. Shares in Neste Oyj (HE:NESTE) moved up to 52-week highs after the 9.76% rise to 27.89. Nokia Oyj (HE:NOKIA) advanced to 5-year highs as its price increased 4.48% to 7.14. Fortum Oyj (HE:FORTUM) rose to 3-year highs following its 3.57% gain to 21.18.
Commodity markets registered sharp moves that were reflected in local stock performance. Brent oil for May delivery climbed 8.07%, an 7.42 increase to $99.40 a barrel. U.S. crude for April delivery rose 8.69%, up 7.58 to $94.83 a barrel. Precious metals moved in the opposite direction, with the April Gold Futures contract falling 0.94%, a decline of 48.46 to trade at $5,130.64 a troy ounce.
Currency and dollar benchmarks showed modest shifts. EUR/USD was unchanged at 1.15 with a movement noted as 0.39%. EUR/GBP was unchanged at 0.86 with a movement noted as 0.08%. The US Dollar Index Futures was up 0.44% at 99.66.
Summary - The OMX Helsinki 25 closed higher by 1.44% as oil, telecoms and utilities stocks led gains; Neste, Nokia and Fortum were the session's top performers while several industrial and metal firms ended lower. Significant moves in oil and U.S. crude, and a drop in gold futures, accompanied modest currency shifts and a stronger dollar index.
Key points
- OMX Helsinki 25 rose 1.44%, driven by gains in Oil & Gas, Telecoms and Utilities.
- Neste (HE:NESTE), Nokia (HE:NOKIA) and Fortum (HE:FORTUM) posted the largest increases; Neste reached a 52-week high, Nokia a 5-year high and Fortum a 3-year high.
- Commodity prices moved sharply - Brent and U.S. crude both jumped, while April gold futures fell; currency pairs showed limited movement and the U.S. dollar index strengthened.
Risks and uncertainties
- Volatility in oil markets: Large percentage gains in Brent and U.S. crude suggest elevated commodity-price volatility that can affect oil & gas sector valuations and related stocks.
- Mixed market breadth: The reported distribution of advancing and declining issues (85 to 85, with 20 unchanged) reflects uneven participation across listings and may indicate sector-specific divergence.
- Currency and dollar movements: Even modest swings in EUR/USD and the US Dollar Index Futures can influence import/export sensitive sectors and cross-border earnings.