Why did Skanska move?
Written after the close on
Skanska fell very sharply as US contract wins failed to lift the shares. Over the last five trading days Skanska fell sharply, more than a slightly lower OMX Stockholm 30, even though it announced several US orders, including a USD 271M Coast Guard pier in Rhode Island, a USD 163M university project in Virginia, a USD 110M high school in Renton, a USD 78M school amendment and a USD 60M hospital addition, all booked in the third quarter. Those order wins, plus a CZK 1.5 billion Prague residential investment, likely supported the order book but did not offset the sell-off, which was probably driven by broad construction-sector caution and profit-taking after the run-up. Watch the early-November report for confirmation that these US bookings are feeding through to revenue and margins.
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History in plain words, not investment advice.