Performance

SAP Stock

The third quarter of 2015 was overshadowed mainly by concerns about China’s economy. Nevertheless, over this period as well, SAP stock fared better than the benchmark indexes: Our share price declined 7.4%, whereas the DAX lost 11.7% and the EURO STOXX 50 fell 9.4%.

SAP stock started the third quarter at €62.60, the Xetra closing price at the end of June. At the start of July, recovery in China’s stock market and agreement on a third loan program for Greece lifted stock markets. On July 16, SAP stock reached €68.69, its highest price for the quarter. Investors' cautious response to SAP's announcement of its second-quarter results on July 21, and another slump in China's stock market, dragged down European markets further on July 27.

Worries about China’s economy and mixed signals on the U.S. economy dampened sentiment throughout August. Consequently, on August 21 SAP stock traded below the €60.00 mark for the first time since February 11. Stock markets recovered only briefly following an interest rate cut in China. In the second half of September, the Federal Reserve delayed its plans to raise interest rates, which unsettled investors primarily in Europe and caused the DAX to move back below the 10,000-point mark. At the end of the month, the Volkswagen crisis also weighed on market sentiment, and SAP stock declined to €55.89, its lowest point in the quarter, and closed at €57.95.

In early October, hopes of a further central bank stimulus package temporarily lifted stock market sentiment. The strong preliminary results for the third quarter, which we announced on October 13, lifted SAP's stock: In a falling market, it increased 5.4% to €63.75. After we presented our full results for the third quarter on October 20, SAP stock rose a further 0.5% to €66.50, while the DAX fell slightly.