"European markets opened higher on Wednesday, supported by a rebound in SAP and growing investor optimism ahead of the Federal Reserve's policy decision later in the day. However, the market could remain at risk as investors could remain cautious. SAP led gains in the index, advancing nearly 4% in early trading after upbeat management commentary helped allay recent concerns over its cloud segment."
"Remarks from the CFO emphasised robust cloud intake and free cash flow guidance, triggering renewed interest in the stock. The company's bounce offered a broader lift to the tech and software space across the region. Investor focus remains squarely on the Fed's decision due this evening. Markets have fully priced in a 25-basis-point rate cut, but the key lies in the updated Summary of Economic Projections and Powell's tone."
European markets opened higher, driven by a rebound in SAP and rising investor optimism ahead of the Federal Reserve's policy decision. SAP advanced nearly 4% after upbeat management commentary alleviated concerns over its cloud segment, with CFO remarks emphasising robust cloud intake and free cash flow guidance. The stock's bounce lifted the broader tech and software sector across the region. Markets have fully priced in a 25-basis-point rate cut, while attention focuses on the updated Summary of Economic Projections and Powell's tone. If policymakers reinforce prospects of multiple cuts, equities could rise; signs of hesitation could prompt profit-taking and leave markets at risk.
Read at London Business News | Londonlovesbusiness.com
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