Stock Markets July 23, 2026 12:00 PM

Helsinki Stocks Retreat; OMX Helsinki 25 Drops 1.50% as Materials, Telecoms and Tech Lead Losses

Broad market declines weighed by heavy falls in select materials names while oil jumps and gold tumbles

By Hana Yamamoto
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Finland's equity benchmark, the OMX Helsinki 25, closed down 1.50% on Thursday as setbacks in the Basic Materials, Telecoms and Technology sectors pushed the market lower. Decliners outnumbered advancers by nearly three to one, even as a handful of stocks posted gains. Commodity markets saw sharp moves: Brent and U.S. crude rose, while gold futures declined.

Helsinki Stocks Retreat; OMX Helsinki 25 Drops 1.50% as Materials, Telecoms and Tech Lead Losses
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Key Points

  • OMX Helsinki 25 closed down 1.50%, with Basic Materials, Telecoms and Technology cited as the main laggards.
  • Top gainers were Huhtamaki (+5.99%), Orion B (+2.00%) and KONE (+1.88%); largest decliners were Stora Enso R (-10.84%), UPM-Kymmene (-7.80%) and Nokia (-5.45%).
  • Commodities diverged sharply: Brent and U.S. crude rose over 5%, while August gold futures fell about 2.4%; FX saw small moves in EUR/USD and EUR/GBP.

Finland's main index finished the trading day lower on Thursday, with sectoral weaknesses in Basic Materials, Telecoms and Technology contributing to the drop. At the close in Helsinki, the OMX Helsinki 25 fell 1.50%.

Notable winners included Huhtamaki Oyj (HE:HUH1V), which advanced 5.99% - gaining 1.64 points to close at 29.00. Orion Oyj B (HE:ORNBV) added 2.00%, or 1.55 points, to finish at 78.90, while KONE Oyj (HE:KNEBV) rose 1.88% - up 0.88 points to 47.60 in late trade.

Heaviest losses came from Stora Enso Oyj R (HE:STERV), which tumbled 10.84% - a drop of 1.09 points to 8.94 at the close. UPM-Kymmene Oyj (HE:UPM) declined 7.80%, down 1.88 points to end the session at 22.22, and Nokia Oyj (HE:NOKIA) fell 5.45%, slipping 0.50 points to 8.67.

Market breadth was tilted to the downside on the Helsinki exchange: 127 stocks fell while 45 advanced and 21 finished unchanged.

Orion Oyj B (HE:ORNBV) reached a new all-time high in the session, rising 2.00% or 1.55 points to 78.90.


Commodities and fixed-income cues appeared significant in broader market moves. Brent oil for September delivery climbed 6.44%, up 6.06 to $100.13 a barrel. U.S. crude for September delivery rose 5.77%, or 5.01, to $91.84 a barrel.

By contrast, the August Gold Futures contract fell 2.42% - a decline of 100.40 - to trade at $4,051.50 a troy ounce.

Foreign exchange and dollar measures showed modest movement: EUR/USD was unchanged 0.34% to 1.14, while EUR/GBP was unchanged 0.19% to 0.85. The US Dollar Index Futures was up 0.35% at 101.31.

This combination of strong upward moves in oil and a pronounced drop in gold coincided with the equities weakness that left the OMX Helsinki 25 lower by 1.50% at the close.

Risks

  • Concentrated declines in Basic Materials, Telecoms and Technology may signal sector-specific volatility that could pressure equities in those industries.
  • Large moves in oil prices - with Brent above $100 a barrel and U.S. crude near $92 - introduce input cost and margin uncertainty for energy-exposed and energy-intensive sectors.
  • A notable drop in gold futures could reflect shifts in risk sentiment or liquidity preferences, creating uncertainty for market participants and commodity-linked strategies.

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