Why did Orkla stock move?
Written after the close on
Orkla +0.16%
Orkla little changed as buybacks offset a strong market. Over the last five trading days Orkla rose slightly while Oslo Børs was roughly unchanged, so it moved more than the market. The most likely driver was the ongoing share buyback programme, in which Orkla buys its own shares and which was running through the period, partly offsetting a sharp rise in the market in the last session. News that Orkla may have to discontinue many brands and does not rule out changes likely kept a lid on the shares. The next earnings report is due in early November.
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