Finland's Kymmene slides on Q2 profit lag
** Shares in Finnish forestry firm UPM-Kymmene UPM.HE slide 4.5% as Q2 profit disappoints
** Co posts comparable operating profit of 182 mln euros ($197.94 mln) for Q2, 14% lower than the 212 mln euros expected by analysts polled by LSEG
** While UPM guides for H2 results to be higher than in H1, J.P.Morgan says it, and the consensus, have already priced it in as there is no material headwinds from maintenance cost and pulp prices are starting H2 at a higher level than H1
** Broker says UPM has missed expectations in all major divisions except for UPM Fibres, which makes pulp
** Shares on track for worst day since the beginning of February, if current losses hold
($1 = 0.9195 euros)
Reporting by Agata Rybska
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.