DAX Extends Gains As SAP Reports Strong Q2 Results

(RTTNews) - German stocks rose on Tuesday to extend gains from the previous session after a top survey showed U.S. Vice President Kamala Harris has secured the support of enough Democratic delegates to become her party's nominee against Republican Donald Trump.

Investors also cheered strong earnings from SAP, which reported a 25 percent increase in its cloud business for the second quarter.

The benchmark DAX was up 106 points, or 0.6 percent, at 18,513 after rallying 1.3 percent in the previous session.

Porsche AG slumped 4.5 percent. The luxury car maker cut its full-year revenue forecast and warned of impairments in production spurred by a supply shortage.

SAP, Europe's largest software maker, surged 6.5 percent after adjusted profit for the second quarter came in above expectations.