Bourses in Europe inched up due to upbeat corporate earnings, with Logitech adding 8% in shares

European Markets

Markets in Europe just finished above the flat line on Tuesday’s session, following the reaction of global investors to United State’s conclusion of the three-day government shutdown and fresh corporate stocks news.

European stocks benchmark Stoxx 600 was only marginally up by 0.09 percent on the day, but most of its sector finished on the red zone. Looking at other bourses in Europe, the CAC 40 index in France was under pressure on Tuesday and the DAX index in Germany outperformed most of its peers.

Swiss provider of mobile and personal computer accessories Logitech added as much as 8 percent in shares when its sales surged more than $812 million in 2017’s third half. Logitech’s boost in shares was driven by their higher expectations for the whole year, making sales 22 percent higher compared to the previous year.

French multinational retailer Carrefour has already released their transformation plan for the year 2022. This came in after retailers were currently rising in popularity of e-commerce and Amazon. The firm has planned to step up their investment in digital whilst opening as much as 2,000 convenience stores in the next five years to come, making their shares jump by 3.5 percent.

Carrefour is also seeking partnership with Chinese investment holding conglomerate Tencent.

Looking at U.S. markets, the NASDAQ composite already started on its record highs on Tuesday after an unexpectedly better growth of subscribers in entertainment company Netflix. Other major indices were strengthened by the recently passed agreement that will end U.S. government shutdown.


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