Sandvik Q1 shares fall below forercast margin

Tool and machinery maker Sandvik’s (SAND.ST: Quote) first-quarter operating margin was blown south of analysts’ forecasts by currency headwinds, sending its shares down more than 3 percent.

The maker of metalworking tools, mining equipment and specialty steels was among the hardest hit in Sweden’s engineering sector during the financial crisis, but has since been buoyed by a rapid recovery in demand.