European stocks close mostly higher on the back of positive earnings; Logitech up 8%

Key Points
  • Stocks in Europe followed strong gains seen in Asia and on Wall Street following news that the U.S. Senate had reached a deal to end an ongoing government shutdown
  • Top performing stocks included Logitech, easyJet and Carrefour, while miners fell to the bottom of the benchmarks

European stocks narrowly finished in positive territory on Tuesday, as investors reacted to the latest individual stock news and the end of a three-day government shutdown in the U.S.

The pan-European STOXX 600 provisionally closed 0.09 percent higher, with most sectors ending in the black. Looking to European bourses, Germany's DAX sped ahead of its fellow counterparts while France's CAC 40 came under slight pressure.

Stateside, the Nasdaq composite opened at a record high following a surge in Netflix shares on stronger-than-expected subscriber growth. Markets were lifted following news that the U.S. Senate had reached a deal on Monday to end an ongoing government shutdown. Members of the Senate managed to secure a temporary arrangement to keep the U.S. government open until February 8. The chamber passed a stopgap bill by a margin of 81-18.

Switching focus back to Europe, computer accessories firm Logitech rose 8 percent after it saw its sales rise to $812 million in the third quarter, jumping 22 percent compared to the period a year before. Shares were also boosted after it raised its full-year outlook.

Sticking with the top performers, budget airline easyJet saw its total revenue rise 14.4 percent in the first quarter, hitting £1.14 billion ($1.59 billion), helping lift its share price up over 5 percent in trade.

Meantime, as retailers deal with the rise in popularity of Amazon and e-commerce, France's Carrefour announced its 2022 transformation plan. The company is looking to step up its investment in digital, while opening 2,000 convenience stores in the next five years and seeking a partnership with Tencent in China. Shares rose almost 3.5 percent.

UK regulator: Sky-Fox deal not in public interest

Elsewhere, the U.K's Competition and Markets Authority (CMA) told Rupert Murdoch that his $15 billion takeover of Sky is not in the public's interest.

The government, which is expected to make the final verdict on this deal, asked the competition regulator to assess whether Murdoch had too much influence in the U.K.'s news media space; Reuters reported. Despite the CMA's decision, Sky shares finished up over 2 percent.