|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||4.2500 - 4.2500|
|52 Week Range||2.6200 - 5.1150|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.24 (5.61%)|
|Ex-Dividend Date||Apr 24, 2020|
|1y Target Est||N/A|
Finland's biggest utility Fortum reported an 11% fall in its underlying second-quarter operating profit on Wednesday, dented by low power prices and the impact of the new coronavirus on its Russian business. Fortum, in which the Finnish state owns a 50.8% stake, said its second-quarter operating profit fell from a year ago to 207 million euros ($247 million), missing the 301 million euros expected by analysts in a Refinitiv poll. Fortum said Nordic spot power prices dropped 84% from a year ago because of high reservoir water levels in Scandinavia, although hedging reduced the hit.
The EU Innovation Fund will support projects such as floating wind farms, carbon capture mechanisms and energy storage, all of which could help clean up sectors such as cement and steelmaking. "These large-scale investments will help restart the EU economy and create a green recovery that leads us to climate neutrality in 2050," EU climate chief Frans Timmermans said. The European Commission on Friday invited projects to bid for 1 billion euros ($1.1 billion) in grants from the fund, which is fed by EU carbon market revenues.
Market forces rained on the parade of Fortum Oyj (HEL:FORTUM) shareholders today, when the analysts downgraded their...