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Indonesia News Portal for Traders | Financial & Business Updates

22 October 2024 15:10  |

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

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