European Stocks Inch Down from Record

European stocks erased mid-session gains to close mixed on Thursday, as a batch of strong earnings results offset weakness in tech stocks following Nvidia's earnings call. The Eurozone's STOXX 50 eased 0.2% to 6,162 and the pan-European STOXX maintained yesterday's record high of 633. Argenx shares tanked over 8% despite topping profit estimates in the fourth quarter, while Deutsche Telekom slipped 2% despite beating earnings estimates and announcing a fresh stock buyback. In the meantime, ASML tanked 4.5%, tracking the late-afternoon slide for Nvidia as it failed to calm investors' concerns that AI capital expenditure could slow. On the other hand, Engie soared 7% on plans to acquire UK Power Networks. At the same time, ENI advanced 2.5% on a strong earnings report and Schneider Electric gained 3% after its results. Gains were also recorded on a busy results session for insurance giants, with Allianz and AXA advancing 1% and 1.6%, respectively.

European equities climbed to fresh record levels on Thursday afternoon, fueled by a wave of stronger-than-expected corporate earnings and renewed optimism around artificial intelligence after upbeat forecasts from Nvidia. The Euro Stoxx 50 rose 0.3% to 6,190, while the broader STOXX Europe 600 edged up to 634. Among individual stocks, Indra surged 18% after reporting better-than-expected 2025 results. Engie jumped 7.3% on plans to acquire UK Power Networks, while LSEG climbed 7.6% after announcing an additional £3 billion share buyback amid pressure from Elliott Investment Management. Other notable gainers included Rolls-Royce (+4.6%), Puma (+6.2%), Schneider Electric (+4.6%), and Clariant (+6%), all supported by solid results. Stellantis reversed earlier losses to jump 6.8%, even after reporting its first-ever annual loss. Deutsche Telekom fell 1% despite posting core profit above forecasts and Allianz slipped 0.3% after issuing 2026 guidance that fell short of market expectations.

European stocks were little changed near record highs on Thursday as investors digested a fresh wave of corporate earnings. The Euro Stoxx 50 added 0.2% to 6,185, while the broader STOXX Europe 600 was flat at 633. Among notable movers, Engie surged 7% after announcing plans to acquire 100% of UK Power Networks, and LSEG climbed 5.9% on an additional £3 billion share buyback amid pressure from Elliott Investment Management. Rolls-Royce jumped 6% after raising its profit outlook and announcing up to a $12 billion share buyback, while Puma gained 4% on stronger-than-expected results, despite canceling its dividend and forecasting another loss this year. Schneider Electric, Eni, Deutsche Telekom, and Clariant also posted gains after upbeat results. In contrast, Stellantis fell 1% after reporting its first-ever annual loss, driven by €25.4 billion in write-downs as it scaled back its electric vehicle strategy, and Allianz slipped 0.9% after issuing 2026 guidance below forecasts.