LONDON — European stocks closed lower on Thursday, as traders focused on a raft of earnings reports from some of Europe’s biggest companies.
The pan-European Stoxx 600 was provisionally down 0.2% at the end of the trading session.
SAP plummeted to the bottom of the pan-European index, tumbling 16% — its largest drop since 2020 — which also dragged Germany’s DAX 1% lower. The German software manufacturer’s fourth-quarter results showed its cloud revenue falling short of consensus estimates, with the company warning that cloud backlog…
