European shares sag, SAP boosts tech stocks after forecast raise
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
SAP hits record high
Randstad, DNB climb after Q3 profit beat
Eurofins, Munters at the bottom of STOXX 600
IMF cuts forecasts for German economy this year and next
Updated at 1605 GMT
By Paolo Laudani, Ankika Biswas and Johann M Cherian
Oct 22 (Reuters) -European stocks slipped on Tuesday, as investors navigated geopolitical and global interest-rate cut uncertainties, while German companySAP's strong outlook boosted tech stocks and helped cushion some losses.
The pan-European STOXX 600 index .STOXX closed 0.2% lower, paring early losses that saw the index hit a two-week low.
A spike in yields on benchmark German bunds DE10YT=RR also pressured equities, with utilities .SX6P leading sectoral declines. GVD/EUR
The STOXX hashit record highs multiple times this year, but has retreated further from the milestone as investors priced in stagnating economic growth and bleak Chinesedemand.
The International Monetary Fundforecast manufacturing powerhouse Germany will see zero growth this year and will weigh on broader euro zone performance.
Key upcoming triggers include theNovember U.S. elections, doubts over the pace of Federal Reserve rate cuts and the ongoing geopolitical tensions which haveboosted the safe-haven U.S. dollar and gold.
Traders see the European Central Bank lowering borrowing costs by about 130 basis points by the end of 2025 as ECB President Christine Lagarde said inflation in the currency union may fall back to 2% quicker than previously thought .
Amid the gloom,SAP's SAPG.DE shares rose 2.1%, lifting the broader tech sector .SX8P by 0.9%, afterthe software company increased its full-year targets on strong cloud business in the third quarter.
The stock cushioned some of the German DAX's.GDAXI losses, given its 15% weightage onthe index.
"Although the tone was resolutely bullish about the mid to long term growth opportunity, including from (artificial intelligence), a degree of prudence into year-end makes sense in an uncertain macro backdrop," analysts at BofA global research said in a note.
Switzerland's main index .SSMI slid 0.8%, with LogitechLOGN.S at the bottom with a6.5% drop. The stock had initially surged 3% afterincreasing its full-year forecast.
Saab SAABb.ST topped the STOXX index with an8.9% rise, after the military-hardware producer said its quarterly operating earnings were bigger than expected and confirmed its annual outlook.
Randstad RAND.AS, the world's largest employment agency and therefore crucial to assess job-market conditions, reported quarterly profit slightly above expectations, sending its shares up 2.3% to touch a2-1/2-year high.
Norway's largest bank DNB DNB.OL rose 5.7% after topping its third-quarter profit forecast.
Laboratory testing firm Eurofins EUFI.PA fell 11.5% after the company reported nine-month growth below its guidance, hitting the bottom of the STOXX 600.
Sweden's Munters MTRS.ST dropped 11% after the company posted a third-quarter print below market expectations.
Reporting by Paolo Laudani in Gdansk, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Rashmi Aich, Mrigank Dhaniwala and Chris Reese
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
