July 18 (Reuters) - Snap-On missed Wall Street estimates for second-quarter

sales on Thursday, as declining sales of its equipment used by vehicle service and repair

technicians offset increased demand from commercial and industrial establishments.

An increase in tool prices and higher borrowing rates have prompted U.S. repair technicians

to limit new purchases, weighing on the demand for the company's smaller wrenches and ratchets.

Sales in the company's tools segment, its largest by revenue, fell nearly 8% to $482 million

in the second quarter ended June 29, despite higher sales in international markets.

Demand in the Kenosha, Wisconsin-based company's Commercial and Industrial Group unit, which

caters to several industries such as military, aerospace and power generation, rose 2% to $372

million in the second quarter.

Snap-On's net sales in the quarter fell nearly 1% to $1.18 billion, missing analysts'

average expectations of $1.2 billion, according to LSEG data.

It reported a profit of $5.07 per share, which included a 16 cent per share benefit from a

legal payment. Analysts were expecting the company to report a profit of $4.94 per share.