Europe: Stocks inch up as tech gains offset losses in Ericsson

[BENGALURU] European stocks inched higher on Tuesday (Oct 19) as technology shares rose, mirroring overnight gains in their Wall Street peers and offsetting losses in Sweden's Ericsson and healthcare companies.

The pan-European Stoxx 600 rose 0.1 per cent by 7.08 am GMT, with technology stocks up 0.7 per cent.

Telecom equipment maker Ericsson fell 3 per cent as a hit from global supply chain problems overshadowed stronger-than-expected third-quarter core earnings, while French food group Danone slipped 1.3 per cent after recording rising costs and slower sales growth in the third quarter.

Swedish telecoms operator Tele2 was down 2.3 per cent after posting quarterly core earnings in line with market expectations.

REUTERS