Daily brief
SAP shares plunged by their largest daily percentage in years after the software company reported disappointing figures for its cloud business backlog and future guidance. While it met fourth-quarter revenue forecasts, investor concerns over cloud demand triggered a sharp sell-off. The drop in SAP's market value allowed Siemens to overtake it as the most valuable company on Germany's DAX index.
Deutsche Bank posted its biggest annual profit in nearly two decades, even as its offices in Frankfurt and Berlin were searched in a money laundering probe (ongoing coverage).
Germany's financial regulator, BaFin, warned of a threat to the US dollar's global role, echoing similar concerns raised the previous day (ongoing coverage).
Volkswagen delivered a new electronic architecture dedicated to the Chinese market.
Germany plans to harden its critical infrastructure and develop a satellite missile detection system to reduce reliance on the US amid heightened fears over Russia.