Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

European Stocks Higher; Logitech Soars After Raised Guidance

Stock MarketsJan 19, 2021 08:49
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse 

Investing.com - European stock markets traded higher Tuesday, boosted by optimism in the U.S. in the runup to President-elect Joe Biden’s inauguration as well as some upbeat earnings reports.

At 3:50 AM ET (0850 GMT), the DAX in Germany traded 0.2% higher, the CAC 40 in France rose 0.2% and the U.K.'s FTSE index climbed 0.4%. 

The earnings season is getting fully underway in Europe. Logitech (NASDAQ:LOGI) stock soared 6% after the Swiss-U.S. computer peripherals maker raised its 2021 outlook for sales growth and profit for the third time, benefitting from the Covid-inspired work-from-home trend.

Additionally, Rio Tinto (NYSE:RIO) stock rose 0.6% after the mining giant reported a 2.4% rise in fourth-quarter iron ore shipments, helped by industrial activity in top consumer China.

On the flip side, Superdry (LON:SDRY) stock slumped 8.5%, dragging the fashion sector lower, after the retailer’s losses deepened due to fresh restrictions in the U.K. imposed during the key Christmas season.

Later in the session, U.S. Treasury Secretary nominee Janet Yellen will testify before the Senate Finance Committee later Tuesday as part of her confirmation hearing, and is set to defend the $1.9 trillion Covid-19 relief plan unveiled by President-elect Joe Biden during the past week.

Some fear that the relief plan, designed to boost growth in the world’s largest economy, will have to be watered down to get through opposition from Republican lawmakers in the Senate. 

Back in Europe, the Covid-19 virus continues to cause havoc. France's average daily new infections hit a six-and-a-half week high on Monday, Portugal's daily death toll reached a record high, while in Germany Vice-Chancellor Olaf Scholz called for an extension and tightening of lockdown measures that are due to expire on Jan. 31. German federal and state government officials are due to meet later to decide on fresh measures. 

The release of the latest survey of economic sentiment from Germany’s ZEW will attract attention later Tuesday, but the 3.3% drop in passenger car registrations in December in the European Union provided an indication of the impact of the new mobility restrictions hitting the region.

Oil prices pushed higher, helped by signs of growth in China, the world’s largest crude importer, and optimism over U.S. stimulus measures with fears for fuel demand as Covid-19-induced lockdowns continue globally.

U.S. crude futures traded 0.5% higher at $52.66 a barrel, while the international benchmark Brent contract rose 1.2% to $55.38. 

Elsewhere, gold futures rose 0.7% to $1,843.35/oz, while EUR/USD traded 0.3% higher at 1.2113.

 

European Stocks Higher; Logitech Soars After Raised Guidance
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email