Why did Sandvik rise on 6 October?
Written after the close on
Sandvik +1.27% · OMX Stockholm 30 +0.99%
Sandvik rose in the last session on its Osprey divestment. Over the last five trading days Sandvik fell clearly while the OMX Stockholm 30 was roughly unchanged, so the decline was company-specific; the sale of the Osprey metal powder business to Mimir, announced yesterday and completed today, likely drove the last session's rebound, while last week's interest-rate worries and a broker downgrade weighed on the shares earlier in the period. A metal powder business makes the fine metal powders used in 3D printing and hard-wearing components. Watch the third-quarter report on October 22 for the next clear signal.
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