Why did Essity rise on 6 October?
Written after the close on
Essity +1.57%
Essity rose sharply, helped by buybacks. Essity was roughly unchanged over the last five trading days, even as the Stockholm market was also roughly flat, so it moved on its own without a clear direction. The most likely driver of the latest session's sharp rise was the company's continued share buybacks — repurchasing its own stock, which reduces the number of shares outstanding and can support the price — with a fresh batch of Class B shares bought back during the week. What to watch next is the third-quarter report, which those cautious broker notes point toward.