European stocks extend losses, SAP shines after forecast lift

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

European stocks extend losses, SAP shines after forecast lift

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Oct 13 (Reuters) – European stocks extended losses on Wednesday as investors were unnerved by the prospect of rising inflation slowing growth, while software group SAP’s strong earnings forecast helped limit losses in Germany’s blue-chip index.

By 0710 GMT, the pan-European STOXX 600 index slipped 0.4%, the German DAX was down 0.2% and France’s CAC 40 fell 0.5%.

German business software group SAP rose 2.6% after it raised its full-year outlook for a third time following a strong quarterly showing as more customers shift their IT operations to the cloud.

French luxury goods maker LVMH inched down 0.1% as overall revenue growth in Asia and the United States eased after stellar first-half performance.

Online food ordering and delivery service Just Eat Takeaway.com was the biggest decliner on STOXX 600, down about 5%, after its third-quarter orders fell short of analysts’ estimates.

Apple suppliers including STMicroelectronics, Infineon Technologies and AMS fell between 1% and 2% after Bloomberg reported the company is likely to slash production of its iPhone 13. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

New Brokers
3.3 rating
Plus500 is a leading provider of Contracts for Difference, delivering trading facilities on shares, cryptocurrencies, forex, commodities and indices.
2.8 rating
Buy & sell Crypto in minutes
IG
2.8 rating
IG Trade with the world’s No.1 CFD provider 17,000+ markets. Countless opportunities.
2.5 rating
Note: Investing involves risks. You can lose your deposit. We advise you to only invest in financial products which match your knowledge and experience.
2.8 rating
Interactive Brokers attracts active traders with low per-share pricing, an advanced trading platform.
AdonFinance
Risk Warning: The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory or other services by AdonFinance. In addition, the content of the website offers no opinion with respect to the suitability of any security or any specific investment. Trading foreign exchange, stocks, cryptocurrencies and commodities is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before any investment with any broker you need to carefully consider your targets, previous experience, and risk level. Forex trading can result in the loss of your money, as a result, you are expressly cautioned that you should never invest or trade with money that you cannot afford to lose. For the avoidance of doubt, AdonFinance's service provides Brokers reviews in the Financial market. AdonFinance, its subsidiaries, agents or affiliates will assume no responsibility whatsoever for your trading activity. © Copyright 2021 AdonFinance