Europe open: Shares up strong on Wall St but Softcat out of favour

by | Oct 26, 2021

European shares opened higher on Tuesday, boosted by record closes on Wall Street overnight and strong earnings from Facebook.
The pan-European Stoxx 600 was up 0.24% with all major regional bourses higher.

In equity news, shares in UBS rose after the wealth manager posted a better-than-expected 9% increase in third quarter net profit.

Cleaning products maker Reckitt Benckiser jumped 5.8% after it raised its full-year forecast and beat estimates for third-quarter sales.

Computer peripherals maker Logitech International fell 3.1% after it confirmed full-year earnings outlook on the boom in working from home, but warned of supply-chain disruptions.

Softcat shares led the fallers, down more than 7%, despite reporting record full-year results on Tuesday amid strong public sector demand and a recovery in the corporate sector.

Swedish bearings manufacturer SKF fell 6% after missing third-quarter profit forecasts.

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