Nokia Shares Plunge, Dragging Helsinki Benchmark to a Modest Loss

Finland's benchmark stock index, the OMX Helsinki 25, edged lower at the close of trading on Thursday, finishing the session down 0.18%. The decline was primarily driven by steep losses in the telecommunications and technology sectors, according to market data.

Despite the negative performance of the headline index, market breadth was positive. On the Helsinki Stock Exchange, 88 stocks rose while 79 declined, with 24 ending the session unchanged. This indicates that the index's dip was concentrated in a few heavily weighted companies rather than a broad market sell-off.

Sector Movers

The session's worst performer was telecommunications giant Nokia Oyj (HE:NOKIA), which saw its shares plummet 6.58% to close at 9.14. Other notable decliners included engineering firm Wartsila Oyj Abp (HE:WRT1V), which fell 1.85%, and financial services group Mandatum Oyj (HE:MANTA), which was down 1.36%.

On the upside, technology company Valmet Oyj (HE:VALMT) was the top gainer on the index, rising 2.58%. It was followed by elevator and escalator manufacturer KONE Oyj (HE:KNEBV), which added 1.98%. Meanwhile, shares in energy company Neste Oyj (HE:NESTE) climbed 1.84%, reaching a new 52-week high.

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Commodities and Currencies

In the broader markets, commodity prices were generally lower. Brent crude oil for September delivery slipped 0.29% to $84.70 a barrel, while August Gold Futures fell 0.98% to trade at $4,012.15 a troy ounce.

In foreign exchange markets, the EUR/USD and EUR/GBP pairs were little changed. The US Dollar Index Futures, which measures the greenback against a basket of other major currencies, was up 0.23% at 100.50.