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Pin to quick picksSoftcat Share News (SCT)

Share Price Information for Softcat (SCT)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 1,686.00
Bid: 1,687.00
Ask: 1,690.00
Change: 13.00 (0.78%)
Spread: 3.00 (0.178%)
Open: 1,678.00
High: 1,691.00
Low: 1,671.00
Prev. Close: 1,673.00
SCT Live PriceLast checked at -

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European shares rise as tech leads gains on Fed rate optimism

Thu, 13th Jul 2023 17:11

STOXX 600 records best winning streak since April

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Tech, miners stocks boost index

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Barratt slumps on flagging weak housing market

July 13 (Reuters) - European shares closed higher on Thursday led by technology stocks, as hopes grew that the Federal Reserve's post-pandemic tightening cycle was close to an end due to cooling U.S. inflation.

The pan-European STOXX 600 index ended 0.6% higher, extending gains to the fifth straight day, its longest winning streak in nearly three months.

Rate-sensitive technology stocks were the top gainers on STOXX 600, jumping 1.7%, with IT provider Softcat advancing 5.3% after Citi raised it to "buy".

Also supporting STOXX 600 were miners rising 1.7%, as commodity prices won support from a weaker dollar.

A faster-than-expected slowdown in U.S. inflation reinforced bets that the Fed could end its rate hikes soon after July.

Falling euro zone government bond yields also helped stocks on Thursday as investors cheered prospects of peak interest rates, though they are still expecting the Fed to deliver a 25-basis point (bps) hike later this month.

"(Overall), the data didn't have the effect it should have had on the market this morning as investors are mostly focused on central banks' monetary policies," said Pierre Veyret, technical analyst at ActivTrades.

Separately, data from the U.S. also showed initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 237,000 for the week ended July 8, but overall the labor market remains tight.

Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, says the labour data adds credence to the theory that the rate of inflation can keep coming down even if the labour market remains strong.

"The implication for investors is that buying stocks and bonds is the best course of action, unlike last year when both asset classes dropped in unison."

London's FTSE 100 also edged 0.3% higher after a muted start. Britain's economy shrank less than expected in May, suggesting a widely forecast recession was not already underway.

Among individual stocks, Britain's largest homebuilder Barratt Developments dropped 1.6% after the company warned it would build far fewer homes this fiscal year.

Shares of Swatch rose 6.9% after the watchmaker reported record growth in the first half of the year. (Reporting by Matteo Allievi in Gdansk and Amruta Khandekar and Shreyashi Sanyal in Bangalore; Editing by Sherry Jacob-Phillips, Janane Venkatraman, William Maclean)

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21 Nov 2023 08:07

JP Morgan downgrades Softcat on slow earnings growth

(Sharecast News) - JP Morgan has downgraded its rating on Softcat from 'neutral' to 'underweight', saying that the IT infrastructure and services provider's slow earnings growth doesn't justify the stock's premium valuation.

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21 Nov 2023 07:55

LONDON BRIEFING: UK Commercial Property shareholder blocks merger

(Alliance News) - The FTSE 100 is expected to edge into the red at Tuesday's open, with a strong pound likely to hinder progress for many of its overseas earners.

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2 Nov 2023 16:02

UK dividends calendar - next 7 days

Friday 3 November 
Alumasc Group PLCdividend payment date
Andrews Sykes Group PLCdividend payment date
AVI Japan Opportunity Trust PLCdividend payment date
Barratt Developments PLCdividend payment date
British American Tobacco PLCdividend payment date
Brooks Macdonald Group PLCdividend payment date
CT UK High Income Trust PLCdividend payment date
Fintel PLCdividend payment date
Games Workshop Group PLCdividend payment date
HSS Hire Group PLCdividend payment date
Johnson Service Group PLCdividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Judges Scientific PLCdividend payment date
MP Evans Group PLCdividend payment date
M&G PLCdividend payment date
Mattioli Woods PLCdividend payment date
Mortgage Advice Bureau Holdings PLCdividend payment date
Persimmon PLCdividend payment date
Schroder Income Growth Fund PLCdividend payment date
TP ICAP Group PLCdividend payment date
Twentyfour Income Fund Ltddividend payment date
Weir Group PLCdividend payment date
Wickes Group PLCdividend payment date
WPP PLCdividend payment date
Monday 6 November 
no events scheduled 
Tuesday 7 November 
no events scheduled 
Wednesday 8 November 
abrdn New Dawn Investment Trust PLCdividend payment date
Manchester & London Investment Trust PLCdividend payment date
Thursday 9 November 
abrdn Smaller Companies Income Trust PLCspecial ex-dividend payment date
Airtel Africa PLCex-dividend payment date
Alternative Income REIT PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCdividend payment date
Burford Capital Ltdex-dividend payment date
C&C Group PLCex-dividend payment date
Ecofin US Renewables Infrastructure Trust PLCex-dividend payment date
Galliford Try Holdings PLCex-dividend payment date
Genus PLCex-dividend payment date
Greencoat Renewables PLCex-dividend payment date
Henderson International Income Trust PLCex-dividend payment date
HSBC Holdings PLCex-dividend payment date
Invesco Perpetual UK Smaller Companies Investment Trust PLCex-dividend payment date
J Sainsbury PLCex-dividend payment date
NCC Group PLCex-dividend payment date
Picton Property Income Ltdex-dividend payment date
PRS REIT PLCex-dividend payment date
Schroder BSC Social Impact Trust PLCex-dividend payment date
Softcat PLCex-dividend payment date
SThree PLCex-dividend payment date
Target Healthcare REIT PLCex-dividend payment date
VH Global Sustainable Energy Opportunities PLCex-dividend payment date
Warpaint London PLCex-dividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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24 Oct 2023 17:08

LONDON MARKET CLOSE: FTSE 100 shakes off midday losses after US data

(Alliance News) - The FTSE 100 closed in the green on Tuesday following positive private sector data out of the US, despite figures closer to home showing a weaker UK private sector and rising unemployment.

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24 Oct 2023 12:00

LONDON MARKET MIDDAY: Stocks in red amid cooling UK economy

(Alliance News) - Stock prices in London were lower at midday Tuesday, though European peers were in the green, with the banking sector weighing on the FTSE 100 after less-than-stellar results from Barclays.

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24 Oct 2023 10:04

Softcat shares drop 11% despite reporting "another record year"

(Alliance News) - Softcat PLC on Tuesday said it delivered "another record year" as it reported a single-digit rise in annual profit but a fall in revenue as its Hardware segment struggled.

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24 Oct 2023 07:55

LONDON BRIEFING: Barclays quarterly income rises, but profit falls

(Alliance News) - Stocks in London are expected to edge into the red on Tuesday, as investors look ahead to the latest series of flash PMI prints from major economies.

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24 Oct 2023 07:54

Softcat reports year of robust organic growth

(Sharecast News) - Technology infrastructure product and service provider Softcat described a year of robust profitability and cash generation in its preliminary results on Tuesday, although its shares were sliding after revenue fell almost 9% and failed to meet market forecasts.

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17 Oct 2023 15:43

UK earnings, trading statements calendar - next 7 days

Wednesday 18 October 
888 Holdings PLCTrading Statement
Antofagasta PLCTrading Statement
BHP Group LtdTrading Statement
Cirata PLCTrading Statement
Hochschild Mining PLCTrading Statement
Liontrust Asset Management PLCTrading Statement
Quilter PLCTrading Statement
Segro PLCTrading Statement
Sosandar PLCTrading Statement
Whitbread PLCHalf Year Results
Thursday 19 October 
AJ Bell PLCTrading Statement
Centamin PLCQ3 Results
Deliveroo PLCTrading Statement
Dunelm Group PLCTrading Statement
GB Group PLCTrading Statement
Gear4Music PLCHalf Year Results
Hargreaves Lansdown PLCTrading Statement
London Stock Exchange Group PLCTrading Statement
Man Group PLCTrading Statement
Mondi PLCTrading Statement
PensionBee Group PLCTrading Statement
Rathbones Group PLCTrading Statement
Relx PLCTrading Statement
Rentokil Initial PLCQ3 Results
Sabre Insurance Group PLCTrading Statement
Schroders PLCTrading Statement
St James's Place PLCTrading Statement
Friday 20 October 
Foxtons Group PLCTrading Statement
InterContinental Hotels Group PLCTrading Statement
Record PLCTrading Statement
Monday 23 October 
Shanta Gold LtdTrading Statement
South32 LtdTrading Statement
Tuesday 24 October 
Angling Direct PLCHalf Year Results
Anglo American PLCTrading Statement
Barclays PLCQ3 Results
Bunzl PLCTrading Statement
FD Technologies PLCHalf Year Results
Gattaca PLCFull Year Results
Petra Diamonds LtdQ1 Results
Scancell Holdings PLCFull Year Results
Softcat PLCFull Year Results
Travis Perkins PLCTrading Statement
Trifast PLCTrading Statement
WAG Payment Solutions PLCTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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19 Jul 2023 09:17

LONDON BROKER RATINGS: Exane raises Segro; Goldman likes Aston Martin

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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13 Jul 2023 12:15

Are higher rates the best way forward?

STOXX Europe 600 up 0.5%

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13 Jul 2023 11:25

BASF, LVMH and the crowding factor in beats & misses

STOXX Europe 600 up 0.5%

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13 Jul 2023 09:57

Italy: the most overbought stocks in Europe

STOXX Europe 600 up 0.5%

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13 Jul 2023 09:34

STOXX climbs as tech boost offsets homebuilder drag

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at .

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