European Stocks Slip as Tech Sector Weakens After Oracle Outlook; Fed Easing Signals Offer Limited Support

European shares traded lower on Thursday, as a selloff in technology stocks—triggered by a downbeat forecast from U.S. cloud firm Oracle—offset investor relief over the Federal Reserve’s policy signals, which were less hawkish than feared.

The STOXX 600 slipped 0.3% to 576.78 by 08:09 GMT, with major regional indices in London and France down 0.1% each.

Tech Stocks Lead Declines; SAP Drops 2.5%

Technology shares were the biggest drag, falling 0.9%, pressured by a 2.5% slide in SAP.
Oracle’s disappointing revenue and profit outlook, alongside higher spending plans, rekindled concerns over stretched tech valuations and the uncertain payoff from massive AI-related investments.

Germany’s DAX lagged as SAP’s decline weighed heavily on the index.

Fed’s “Less Hawkish” Tone Provides Limited Cushion

Relief from the Federal Reserve’s latest meeting was overshadowed.
While the Fed cut rates and sounded less hawkish than expected, it also stressed that further cuts will depend on clearer labor-market signals, making investors cautious.

Corporate Movers

• Delivery Hero slid 5% after Citigroup downgraded the stock to “sell” following a sharp rally the previous session.
• Drax rose 2.2% after forecasting annual profit at the top end of expectations.
• RS Group topped the STOXX 600, up 3%, following an upgrade from J.P. Morgan.