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World Stock Markets in Red Tuesday

- By Omar Venerio

Global markets were in negative territory on Tuesday despite good data from Eurostat, which showed the Eurozone's economy expanded 2.7% last year. The figure beat the consensus estimate by 0.1%.

Shares of Callidus Software Inc. (CALD), however, were higher on news it is being acquired by SAP SE (SAP). The board unanimously approved the $2.4 billion deal.

"The addition of CallidusCloud aligns perfectly to SAP's innovation strategy to transform the front office," SAP CEO Bill McDermott said. " SAP gives CallidusCloud the global scale to accelerate its already impressive growth."

After the acquisition, SAP will strengthen its position in the American cloud software market.

G ainers

  • Qorvo Inc. (QRVO)
  • Harris Corp. (HRS)
  • Dr Pepper Snapple Group Inc. (DPS)
  • Southern Co. (SO)

L osers

  • MetLife Inc. (MET)
  • Harley-Davidson Inc. (HOG)
  • Anthem Inc. (ANTM)
  • Cigna Corp. (CI)

Global markets

The main European stock markets traded in the red. The U.K.'s FTSE 100 lost 1.09%, France's CAC 40 fell 0.87%, Germany's Dax declined 0.95% and Spain's Ibex slid 1.21%.

In Asia, Japan's Nikkei 225 lost 1.43%, Hong Kong's Hang Seng retreated 1.09%, China?s SSE Composite fell 0.99% and India's BSE Sensex declined 0.69%.

Disclosure: The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.