Sweden's Sandvik jumps on better-than-expected Q4

Epiroc AB

23/01/2025 09:20

** Sandvik's  SAND.ST  stock rises 3.8%, hits highest level
since mid-October
    ** The Swedish metal cutting and mining equipment maker's Q4
results showed to be stronger than anticipated despite
macro-economic instability hurting demand 
    ** "Good start to the year," Jefferies says, noting results
were slightly better than expected, which it sees boding well
for Swedish peer Epiroc  EPIRa.ST 
    ** Sandvik's Q4 is "ahead on all lines", says J.P.Morgan,
better than the broker-anticipated 'no-worse' development in
short-cycle
    ** Co also showing a better-than-expected development in
mining and some signs of improvement in infrastructure, says
brokerage
    ** Adds, Sandvik's adjusted EBITA for Q4, which came in at
6.29 billion Swedish crowns ($570.53 million), was 4% above
JPM's estimates, and 2% more than consensus expectations
    ** The stock is among top performers on STOXX 600  .STOXX 
index, on track for a best day since end-September
    ** Peers Metso  METSO.HE  up 1.8%, FLSmidth  FLS.CO  rises
2.4%, Epiroc gains 2.6%
    
($1 = 11.0248 Swedish crowns)
    

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))