European Stocks and Pandemic Winners Logitech and UBS

European Stocks and Pandemic Winners Logitech and UBS

Let us check out stocks. On Tuesday, European stocks slipped on worries concerning the political environment on both sides of the Atlantic. The wave of the Continent’s largest companies including Reckitt Benckiser and UBS reported how the pandemic had helped somewhat hinder the business.

The Stoxx Europe 600 slipped 0.4%. Furthermore, the major regional indexes, United Kingdom FTSE 100, the German DAX, and French CAC 40, took a step backward.

On Monday, United Kingdom stocks dropped as on-again. There are off-again hopes over fiscal stimulus that seemed to be off again. Meanwhile, the European Union indicated that it was willing to intensify talks with the United Kingdom on a new trade pact. Nevertheless, it made no other signal; it was softening its position. It is according to a report in The Times newspaper.

The news from the pandemic front is alarming. Ireland moved to its highest level of restrictions. Meanwhile, Wale will start a national lockdown.

Moreover, the losses came with several well-received earning reports.

Logitech International shares jumped sixteen percent. In fiscal second-quarter sales, Swiss-American computer peripheral maker enjoyed a seventy-five percent jump. Its profit surged amid the quarter.

Stocks

Shares of biopharmaceutical lab equipment maker Sartorius rose six percent. It happened after saying it now revenue at the upper end, or slightly above, its previously expected 22% to 26% range for the year. The company said that it has benefited from preparations of biopharmaceutical customers. They built up production capacities for coronavirus vaccines and Covid-19 therapeutics.

Swiss banking giant set aside $1 billion for dividends and another $1.5 billion for stock buybacks. UBS shares rose two percent. It is expecting to receive permission to restart next year. Thanks to a 42% surge in global markets revenue, UBS said its third-quarter profit nearly doubled.

The consumer-products company hiked its sales guidance. Thus, Reckitt Benckiser shares rose once percent. It now sees low double-digit percentage growth for the year. It is thanks to the demand for disinfection brands like Lysol.

BMW shares slipped one percent. Late Monday, BMW said that in the third quarter, it would report better-than-expected automotive cash flow.

Permira sold an eleven percent stake at an eight percent discount to Monday’s close. Thus, shares of remote software provider TeamViewer slumped seven percent. This year, the stock has surged thirty-four percent.

RMG stock surged eight percent. That is good news for RMG.

That is the current news about the stocks. We will keep you updated if new information will come.

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