European stocks lower as ceasefire optimism fades; SAP surges 6% on profit beat

european stocks slipped friday morning, with the stoxx 600 down 0.5% by 8:35 a.m. in london. ceasefire optimism faded as uncertainty over u.s.-iran talks weighed on sentiment. mining stocks led losses, sliding nearly 1.7%, while oil and gas rose 1.2% as energy prices ticked up. sap surged 6.4% after reporting operating profits up almost 17% and cloud revenues up 19% in its latest quarter. ceo christian klein told cnbc the company is "uniquely positioned to win in business ai" and plans to reinvest more into ai innovation. renault shares fell 2.2% after first-quarter sales dropped 3.3% year-over-year, though group revenues rose 7.3% to 12.5 billion euros. on the geopolitical front, trump told reporters thursday not to rush him on a long-term deal with iran and said he won't set a timetable for ending the war. overnight, u.s. forces reportedly boarded another tanker suspected of carrying iranian oil through the indian ocean. brent crude rose 0.5% to $105.65 a barrel.