European stocks surrendered mid-session gains to finish mixed on Thursday, as robust corporate earnings in several sectors offset weakness in technology shares following Nvidia’s earnings call. The Eurozone’s STOXX 50 slipped 0.2% to 6,162, while the pan-European STOXX 600 held at yesterday’s record high of 633.
Among individual movers, Argenx dropped more than 8% despite beating fourth-quarter profit estimates, and Deutsche Telekom fell 2% even after topping earnings forecasts and unveiling a new share buyback program. ASML retreated 4.5%, mirroring Nvidia’s late-afternoon slide as the US chipmaker failed to dispel worries that AI-related capital expenditure might be losing momentum.
In contrast, Engie surged 7% after announcing plans to acquire UK Power Networks. ENI rose 2.5% on the back of a strong earnings release, and Schneider Electric advanced 3% following its results. Insurers also contributed to the upside in a heavy earnings session, with Allianz and AXA gaining around 1% and 1.6%, respectively.
