Sappi is trading 7.8% up at ZAc 1,114 following a sharp rebound driven by a stronger earnings outlook and the entry of a new institutional investor.
- Legal & General Investment Management disclosed a 5.03% stake in the company, providing significant institutional backing and supporting stock momentum.
- The company raised its Q3 FY2026 earnings expectations, signaling improved financial performance and outlook.
- This follows a previous 13.4% jump to ZAc 1,033 on July 10 as the market continues to react positively to recent disclosures.