SAP hits record high
Randstad, DNB climb after Q3 profit beat
Eurofins, Munters at the bottom of STOXX 600

Oct 22 Reuters European stocks slipped on Tuesday, as investors navigated geopolitical and global interestrate cut uncertainties, while German SAP39;s strong outlook boosted tech stocks and helped the country39;s main stock index buck the sluggish trend.

The panEuropean STOXX 600 index ticked down 0.3, as of 0830 GMT.

The index has hit record highs multiple times this year, but momentum has sagged on concerns around the European economy and Chinese demand.

With the European economy looking so weak, the fact that we had backtoback ECB rate cuts and expectation of cuts from the Bank of England will start to boost confidence in business and with the consumer, said Danni Hewson, head of financial analysis at AJ Bell.

For now, there39;s an awful lot of moving parts and investors are just trying to keep up with what39;s going on.

Taking some shine off equities, key triggers including the November U.S. elections, doubts over the pace of Federal Reserve rate cuts and the ongoing geopolitical tensions have boosted the safehaven U.S. dollar and gold.

On the earnings front, SAP39;s shares rose 5 after the software company increased its fullyear targets on strong cloud business in the third quarter, helping the tech index rise 1.4 and top sectoral gainers.

With the stock commanding around 15 weightage on Germany39;s DAX index, the benchmark index gained around 0.5,…