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MarketScreener Homepage  >  Equities  >  Xetra  >  SAP SE    SAP   DE0007164600


Real-time Estimate Quote. Real-time Estimate Tradegate - 12/02 03:59:57 pm
101.54 EUR   +0.32%
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SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Stocks dip on surging virus cases, stimulus doubts

10/26/2020 | 08:22am EST

* Unease over record virus cases in Europe, U.S.

* German DAX hits three-month low as SAP slumps

* Investors seek dollar safety

* Italy bond yields slide after S&P move

* Eyes this week on central bank meetings, U.S. GDP data

* Graphic: 2020 asset performance http://tmsnrt.rs/2yaDPgn

LONDON/SYDNEY, Oct 26 (Reuters) - Global shares fell on Monday as surging coronavirus cases in Europe and the United States clouded the global economic outlook, while China's leaders meet to plan the country's economic future.

The United States has seen its highest-ever number of new COVID-19 cases in the past two days. France also set case records and Spain announced a state of emergency.

The coronavirus resurgence, along with no clear progress on a U.S. stimulus package and caution before the Nov. 3 U.S. election, dragged the MSCI world equity index down 0.3%. In Europe, the Euro STOXX 600 shed 1%. S&P 500 futures fell 1%.

"The decreasing likelihood of U.S. fiscal stimulus pre-election, possibly even pre-year-end, as well as worsening virus numbers and increasing lockdown measures, all seem to be taking the shine off what was a rather complacent market view of the outlook," said James Athey, investment director at Aberdeen Standard Investments.

Europe became the second region after Latin America to surpass 250,000 deaths on Saturday, according to a Reuters tally, as many European countries reported their highest number of COVID-19 cases in a single day.

Milan's blue-chip index sank 1% as new curbs on public venues overshadowed Friday's news that ratings agency S&P Global had upgraded the nation's sovereign outlook to stable from negative.

The German DAX slumped 2.7% to a three-month low after software company SAP abandoned medium-term profitability targets and warned its business would take longer than expected to recover from the pandemic.

Sentiment was also hit by a survey showing German business morale fell for the first time in six months in October.

Reports of progress in a COVID-19 vaccine being developed by the University of Oxford and manufactured by drug maker AstraZeneca Plc helped limit some of the market sell-off, analysts said.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.2%. Japan's Nikkei finished 1% lower, and South Korea's main index lost 0.7%.

Chinese blue chips shed 0.6% as the country's leaders met to chart the nation's economic course for 2021-2025, balancing growth with reforms amid an uncertain global outlook and worsening relations with the United States.

In a packed week for monetary policy decisions, Canada's and Japan's central banks are expected to hold fire for now. Markets assume the European Central Bank will sound cautious on inflation and growth even if it skips a further easing.

Data due out Thursday is forecast to show a consumer-led 31.9% rebound in U.S. economic output in the third quarter, after the second quarter's historic collapse.

Analysts at Westpac noted such a bounce would still leave 2020 GDP around 4% below last year's, with business investment still lagging badly.

As markets increasingly price in the likelihood of a Democratic president and Congress and resulting rise in government spending and borrowing, U.S. 10-year Treasury yields hit their highest since early June last week at 0.8720% . They were trading at 0.81% on Monday.

"We have raised the probability of a Democratic sweep, already our base case, from 40% to just over 50% and have increased our expectation of Biden to win from 65% to 75%," NatWest Markets analysts said. "We see steeper U.S. yield curves and a weaker USD as likely to prevail in our base case."

Italian government bond yields slid across the curve, with short-dated yields falling to a one-year low, after S&P Global's unexpected outlook upgrade.

The benchmark 10-year yield dropped 6 basis points to 0.70% . Short-dated two-year Italian yields hit their lowest level in a year at -0.382%.

Surging coronavirus cases sent investors to the safety of the dollar after it fell broadly last week.

An index tracking its value against a basket of currencies firmed 0.1% to 92.92, while euro/dollar - the most traded currency pair and part of the index - fell 0.3% to 1.1826 .

In commodity markets, gold was 0.1% higher at $1,902.06 per ounce.

Oil prices extended last week's losses as the prospect of increased supply and resurgent coronavirus infections worried investors.

Brent crude was down 1.9% at $40.97 a barrel. U.S. West Texas Intermediate (WTI) dropped 2.1% to $39.03.

(Reporting by Tom Arnold in London and Wayne Cole in Sydney; editing by Shri Navaratnam, Tomasz Janowski, Larry King)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 1.76% 7937 Delayed Quote.4.34%
DAX 0.00% 13313.24 Delayed Quote.0.48%
LONDON BRENT OIL 0.71% 48.28 Delayed Quote.-27.74%
MSCI WORLD INDEX (STRD, UHD) 0.19% 2613.913 Real-time Quote.10.62%
NIKKEI 225 0.05% 26800.98 Real-time Quote.13.23%
SAP SE 0.08% 101.3 Delayed Quote.-15.81%
STOXX EUROPE 600 -0.05% 391.69 Delayed Quote.-5.76%
WTI 0.90% 45.265 Delayed Quote.-26.33%
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Sales 2020 27 337 M 33 100 M 33 100 M
Net income 2020 4 706 M 5 698 M 5 698 M
Net Debt 2020 8 595 M 10 407 M 10 407 M
P/E ratio 2020 25,4x
Yield 2020 1,64%
Capitalization 121 B 146 B 146 B
EV / Sales 2020 4,73x
EV / Sales 2021 4,60x
Nbr of Employees 101 450
Free-Float 86,2%
Chart SAP SE
Duration : Period :
SAP SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SAP SE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 116,62 €
Last Close Price 101,30 €
Spread / Highest target 58,9%
Spread / Average Target 15,1%
Spread / Lowest Target -29,9%
EPS Revisions
Christian Klein Co-Chief Executive Officer & COO
Hasso Plattner Chairman-Supervisory Board
Luka Mucic Chief Financial Officer
Juergen Mueller Chief Technology Officer
Lars Lamadé Member-Supervisory Board
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