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STOXX 600 up 0.1%

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Porsche falls after cutting sales forecast

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SAP hits all time-high after adjusted profit beats

estimates

(Updated at 0842 GMT)

By Pranav Kashyap and Shristi Achar A

July 23 (Reuters) - European shares edged higher on

Tuesday as a rally in technology-related shares following robust

earnings from SAP and Logitech offset losses in miners.

The pan-European STOXX 600 index was up 0.1%, as of

0842 GMT, after posting its best day in more than a month on

Monday.

Earnings updates from technology-related companies helped

lift the index, with SAP jumping 6.4% on Tuesday after

Europe's largest software maker reported a 25% jump in its cloud

business and beat estimates for second-quarter revenue.

The German benchmark index DAX gained 0.6%,

outperforming the region's bourses on the back of SAP's gains.

Logitech's shares advanced 2.7% after the computer

mouse maker raised its full-year sales and profit forecast.

The technology sub-index, which houses both the

stocks, gained 1.2%.

European shares have been paring past week's losses as

markets assess political developments in the United States and

shift their focus to the earnings season.

"Joe Biden pulling out of the (U.S. presidential) race gives

a bit more confidence to investors," said Christopher Peters,

trading floor manager at Accendo Markets.

"Corporate earnings is going to have more of an impact on

markets for the next few weeks."

Norsk Hydro's ( NHYKF ) shares were down 3.2% after the

aluminium producer posted an 18% fall in second-quarter core

profit, dragging metal miners down 1.4%.

The sector also weighed on the benchmark index as copper

prices came under pressure due to concerns over top consumer

China's demand outlook.

Givaudan also weighed on the benchmark index with a

4.4% decline after the Swiss fragrance and flavour maker's

first-half sales growth slowed. The chemicals sector

dropped 1.1%.

Among other stocks, Porsche AG fell 4.6%, after

the German carmaker cut its annual sales forecast due to a

surprise alloy shortage. Parent Porsche SE also fell

2.7%.

Edenred slumped 7.2% and was the top loser on

STOXX 600 after the French vouchers and benefit cards provider

reported first-half results.

Meanwhile, new data and macro-economic projections will help

the European Central Bank reassess its monetary policy stance in

September, ECB Vice President Luis de Guindos said in an

interview with Europa Press.