European stock markets opened modestly on Tuesday. Mining stocks faced some pressure, which slightly offset gains from technology companies boosted by strong earnings reports from SAP and Logitech.
The pan-European STOXX 600 index remained nearly unchanged at 514.9 points as of 0715 GMT, following its best day in over a month on Monday.
SAP surged by 6.2% after the leading European software manufacturer reported a remarkable 25% increase in its cloud business and exceeded analysts’ estimates for second-quarter revenue.
Meanwhile, shares of Logitech International rose by 2.3% after the tech accessories manufacturer raised its full-year sales and profit forecasts, citing significant quarterly growth.
The technology sub-index, which includes both SAP and Logitech, advanced by nearly 1%.
On the downside, a 1.5% drop in metal mining stocks weighed on the benchmark index. This decline was fueled by concerns regarding China’s demand outlook, as it remains the largest consumer of copper.
In related news, new data and macroeconomic projections are expected to assist the European Central Bank (ECB) in reevaluating its monetary policy direction in September. This was indicated by ECB Vice President Luis de Guindos during an interview with Europa Press.
For more insights on market trends and economic forecasts, you can visit Reuters.
(Note: The image URL is a placeholder; please replace it with an actual image URL for your WordPress post.)
Image and News Source: https://es-us.finanzas.yahoo.com/noticias/bolsas-europeas-abren-planas-contrarrestar-075722925.html
