FRANKFURT (dpa-AFX) - SAP shares continued their rally on Wednesday with another record high following quarterly figures. Immediately after the Xetra opening, they rose to over 160 euros and gained more than seven percent as the strongest stock in the leading Dax index.

One trader described the Walldorf-based company's quarterly report as strong. One fly in the ointment was the turnover in the cloud business, which was slightly below expectations. However, this was compensated for by a strong outlook. "Above all, the focus on the trending topic of artificial intelligence (AI) is creating a positive mood among investors," wrote analyst Jochen Stanzl from broker CMC Markets.

With an increase of almost 15 percent in the still young stock market year 2024, SAP is currently the strongest stock in the DAX./ajx/stk