SAP drags European software lower on Oracle SaaS slowdown; chips up

STMicroelectronics NV

11/06/2026 09:54

Adds sector details, analyst comment
** SAP SAPG.DE falls 4%, leading European software stocks lower after Oracle ORCL.N flagged higher-than-expected capital spending for fiscal year 2027 and said it would raise more debt
** A trader says Oracle’s slowing SaaS revenue growth offers "the most negative read-across" for enterprise software: "All in all negative news for SAP" 
** Among other software and IT names, Nemetschek NEKG.DE, Capgemini CAPP.PA, Wolters Kluwer WLSNc.AS and Dassault Systemes DAST.PA fall around 3% to the bottom of the pan-European STOXX 600 index .STOXX
** Oddo BHF says Oracle's report is a negative signal that could lead the market to believe demand on the software side is slowing, while implications for semiconductors are positive
** Among chip stocks, ASMI ASMI.AS, STMicro STMPA.PA and ASML ASML.AS rise around 3-4%
** SAP, Europe’s largest software company with a €184 billion ($212 billion) market cap, is down 30% year-to-date 
     
($1 = 0.8664 euros)
 

 (Reporting by Paolo Laudani in Gdansk)
 ((Paolo.laudani@thomsonreuters.com))