Europe: German shares hit half-year high as SAP surges, broader Europe ticks lower

[BENGALURU] German shares hit their highest in 6 and a half months on Wednesday, outperforming their European peers as a surge in software firm SAP helped technology post their best days since August 2015, while the broader market ticked lower as a dip in crude prices weighed on oil majors.

Meanwhile, the pan-European STOXX 600 index ended 0.1 per cent lower, breaking an eight session winning run during which it gained 1.5 per cent. Swiss stocks climbing to a record high also helped limit the broader index's losses. Novartis' gained 2.4 per cent rise drove gains on the Swiss index as the drugmaker raised its 2019 guidance after a first-quarter earnings and sales beat.

Swiss lender Credit Suisse, kicked off first-quarter balance sheet assessment for banks in the region, posting a surprise profit and saying it was cautiously optimistic about the second-quarter.Results from Credit Suisse will be followed by UBS Group AG and Barclays on Thursday and Deutsche Bank on Friday.

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