Why did Epiroc rise on 6 October?
Written after the close on
Epiroc +1.17% · OMX Stockholm 30 +0.99%
Epiroc edged up as the market rallied. Over the last five trading days Epiroc rose slightly while the Stockholm market was roughly flat, so it outperformed a touch. The likely driver was a large order for underground mining equipment from Sibanye-Stillwater for a platinum mine in South Africa, announced last week, which supports the mining-equipment order book. Brokerage target-price increases — analyst estimates of fair value — also likely helped sentiment, though a Q3 report is due in late October and will be the next real test. Watch whether the order momentum carries into the quarterly figures.
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