European shares flat as Nvidia boost offsets sector weakness

European shares were little changed on Thursday, with ‌gains driven by AI chip firm Nvidia's results offset by weakness in consumer goods, chemicals and auto stocks.

The pan-European STOXX ‌600 was down 0.07% at 655.95 points, as of 0709 ‌GMT. Nvidia forecast a 70% jump in revenue next fiscal year, underscoring unabated demand for AI computing.

Technology stocks led sectoral gains, rising 1.5%, with shares ⁠of ​AT&S, Technoprobe ⁠and Computacenter advancing between 4.3% and 4.9%. On the flip side, personal and household ⁠goods, chemicals and auto stocks fell between 0.7% and 0.9%, limiting broader ​gains.

Meanwhile, Qatar's prime minister will visit Tehran on Thursday in ⁠a bid to relaunch diplomacy after the U.S. and Iran traded recriminations ⁠over ​Washington's promise to increase economic pressure on Tehran by targeting its trade partners for sanctions. Oil prices fell more than $1, ⁠extending a streak of losses, on expectations that talks between Iran ⁠and Qatar ⁠might open the Strait of Hormuz and reduce supply disruptions from the war in the Middle ‌East.