Fortum slips as lack of data centre announcement weighs

Shares in Fortum FORTUM.HE fall 5% after the Finnish utility posted its new long-term targets ahead of its CMD

Fortum says it expects its comparable operating profit to improve to 1.26 billion euros ($1.45 billion) by 2030, which J.P.Morgan says is 6% above the Bloomberg consensus

However, the broker notes that the lack of any data centre announcement would hurt shares

"We note that the shares have materially rerated since the announcement of the CMD (14% Vs SX6P 9%) in anticipation of a potential partnership with data centers", JPM says

Fortum shares set for worst day since April, fall to the bottom of STOXX 600 .STOXX

($1 = 0.8676 euros)

($1 = 0.8680 euros)