Why did Tomra Systems rise on 6 October?
Written after the close on
Tomra Systems +3.27%
Tomra rose very sharply, helped by a fund trimming its stake. Over the last five trading days Tomra Systems rose clearly, going against a slightly weaker Oslo Børs benchmark. The most likely driver was a large fund manager, DNB Asset Management, selling a slice of its holding last week — a move that often clears an overhang of shares and can lift the price once it is done. A routine reset of the interest rate on one of Tomra's bonds was also announced, but that is a technical housekeeping item and unlikely to move the shares. Watch the late-October earnings report next.
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