Tech's CAPEX Splurge as SAP Stock Falls, A Metal Markets Party | The Opening Trade 1/29/2026

Posted on 01/29/2026
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SAP shares see their biggest intraday drop since Covid. Germany's biggest company failed to convince that it would be able to clear its growing cloud backdrop. But, chip stocks rise again after the latest US tech earnings point to more capital expenditure spending and signal rising demand for semiconductors. Gold surged to a record above $5,500 an ounce, extending a breakneck rally fueled by a weaker dollar and investor flight from sovereign bonds and currencies to a ninth day. The Fed's latest decision comes in line with expectations, and doesn't make a strong dent on markets.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.



Chapters:

00:00:00 - The Opening Trade

00:00:26 - Market Check

00:01:25 - Lloyds Banking Group Share Buyback

00:04:53 - Tech Earnings Send Mixed Signals

00:07:30 - Gold, Copper Prices at Record Highs

00:12:21 - Powell Avoids Trump, Future Plans Questions

00:15:38 - ING Group CFO

00:24:37 - SAP CEO on Stock, AI Future

00:35:58 - Roche CEO

00:42:52 - Deutsche Bank Authorizes Share Buyback

00:47:02 - Stocks to Watch: Lloyds Banking Group, SAP, Oil Majors

01:03:51 - Lloyds Banking Group CEO

01:14:17 - Trump Warns Iran Time Running Out

01:15:39 - Nokia CEO

01:30:20 - Stellantis Cuts Fiat, Open Prices

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