Why did Essity rise on 6 October?
Written after the close on
Essity +1.56% · OMX Stockholm 30 +0.99%
Essity rose sharply in the last session, likely helped by its ongoing buyback of Class B shares. Over the last five trading days the shares were roughly unchanged, while the Stockholm market was also roughly flat, so Essity moved on its own. The buyback, which the company continued through early October, is a program to repurchase its own stock, and it likely supported the price. Brokerage target-price cuts and a rise in short selling, where investors bet on a fall, likely weighed on sentiment earlier in the period. Watch the next earnings report in late October.
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