European Shares Stagnate Amid Mixed Earnings Reports

European shares remained steady, just below a record high, as technology sector declines counterbalanced telecom and utilities gains. While Puma's profits fell short, Swedbank offered a positive dividend surprise. Investors are eyeing eurozone consumer confidence data and Norges Bank's interest rate decision for further market cues.

European stock markets remained steady on Thursday, holding just below the record levels achieved the day before. The session was marked by a notable drop in technology shares, which counterbalanced gains reported in the telecom and utilities sectors, amidst ongoing evaluations of corporate earnings.

The STOXX 600 index was virtually unchanged following its record intraday peak on Wednesday. Technology shares slipped 1.2%, significantly pulled down by a 3.6% slump in ASML, a leading supplier for computer chip equipment.

Puma's stock took a sharp dive, losing 16.1%, after the company announced lower-than-expected annual profits and deferred its margin goals, alongside new cost-cutting plans. In contrast, Swedbank lifted market spirits with a higher-than-anticipated dividend proposal and fourth-quarter earnings that exceeded estimates, boosting its share price by 5.2%.

(With inputs from agencies.)