European stocks open mixed as SAP earnings rise
European stocks open mixed as earnings dominate; SAP rose 5% to an all-time high European markets opened mixed on Tuesday, as investors assessed earnings from bellweather firms across the region.
The regional Stoxx 600 Index was down 0.13% in early deals, even as Germany's DAX, was trading 0.45% higher and technology stocks gained 1.47%. Both were boosted by Frankfurt-listed software giant SAP, which rose more than 5% to a record high after raising its revenue guidance on strong cloud business growth. Shipping giant Maersk, seen as a barometer for global trade, meanwhile added 3.3% after upgrading its full-year earnings forecast, citing strong container demand.
Utilities and chemicals were the worst-performing sectors, down by 0.6% and 0.5%, respectively. Asia-Pacific markets slipped overnight following a mixed session on Wall Street Monday.
U.S. stock futures were flat in overnight trading after the Dow Jones Industrial Average snapped a three-day winning streak yesterday.
Stateside, results are due from Lockheed Martin, General Motors and Verizon.
Source: CNBC