Stock Movers SAP Plunges, Rio Tinto Rises, Ocado
Jan 29, 2026
SAP stock tumbles after weaker cloud backlog growth and AI worries spark market jitters. Copper spikes to record highs, sending European mining shares, led by Rio Tinto, surging. Ocado slides as its Canadian partner shutters an automated warehouse amid slower-than-expected regional growth.
AI Snips
Chapters
Transcript
Episode notes
Cloud Backlog Miss Sparks Share Drop
- SAP's cloud backlog grew 16%, well below its 26% target and investors' expectations.
- Lizzie Burden says this shortfall and AI disruption fears triggered SAP's steep share plunge in Frankfurt.
Speculative Copper Surge Lifts Miners
- Copper rallied sharply, topping $14,000 a tonne and driving metals mania in trading.
- Louise Moon links speculative Chinese flows to a surge that lifted European mining stocks like Rio Tinto.
Customer Pullbacks Hurt Ocado Expansion
- Ocado's Canadian partner will close its Calgary automated warehouse and pause Vancouver plans due to slower growth.
- Lizzie Burden notes this follows prior U.S. partner closures and fuels skepticism about Ocado's robot-warehouse pitch.