MARKET TALK: Fortum 2Q 'Disappointing', Shares Seen Down

16th Jul 2010 08:18

0718 GMT [Dow Jones] Fortum Oyj (FUM1V.HE) 2Q earnings reporting a 9% fall in net profit are "disappointing" and weaker than expected with share prices likely to react negatively, says Kepler Capital Markets analyst Ingo Becker. "I still see the full-year down anyway, but I thought the pace would be a bit different, gradually going down over the year. We had growth in the first quarter and this has turned negative now already," Becker says. Kepler Capital Markets is recommending reduce on the stock and has a share price target of EUR17. Shares -4% at EUR18.33. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 16, 2010 03:18 ET (07:18 GMT)