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European stocks lower; defense firm Saab up 6%; German software giant SAP hits all-time high

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European markets were in mixed territory Tuesday as sentiment soured on Wall Street and in Asia-Pacific markets overnight.

, seen as a barometer for global trade, upgraded its full-year earnings forecast, citing strong container demand. Shares opened 3.3% higher before reversing course to slip 1% below the flatline.Dan Kitwood | Getty Images News | Getty Images

"We continue to see increasing demand as European nations need to replenish their defence stocks, which will require long-term efforts," CEO Micael Johansson said in a statement."We are growing to meet this increasing demand, for example by investing in capacity, automating our production and building new plants.

"It's definitely cloud, but SAP is more than cloud. We are embedding AI, we are running the operating system of the world, so for us it's all about cloud, plus AI gives customers a faster business model transformation, resilient supply chains," Klein said. The latest borrowing figures"highlight the limited scope the has to increase day-to-day spending without raising taxes," Alex Kerr, U.K. economist at Capital Economics, said in a note.

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