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SAP Plunges, Rio Tinto Rises, Ocado
Published 1 month, 2 weeks ago
Description
On this episode of Stock Movers:
- SAP shares drop as much as 11%, the biggest intraday decline in more than five years, after the software firm reported 25% growth in current cloud backlog on constant-currency basis.
- European mining shares are the best-performers on the Stoxx 600 benchmark on Thursday after copper posted its biggest one-day gain in years to hit a record above $14,000 a ton. Rio Tinto +2.5%, is the biggest contributor to the gains by index points.
- Ocado shares drop as much as 8.9% to the lowest in over a month, after the online grocer’s Canadian partner decided to close its automated warehouse in Calgary due to slower-than-expected growth in the Alberta area.
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