European stocks closed mixed on Thursday as markets assessed key earnings results for the US tech sector and the outlook for global rates. The Eurozone's STOXX 50 inched above the flatline to close at 5,393 and the pan-European STOXX 600 dropped 0.2% to 554.
Nvidia released earnings and revenues figures that were slightly ahead of expectations, but noted that demand in the sector is slowing to consolidate concerns that the AI-led rally in global tech stocks is unsustainable. European stocks with exposure to US chips manufacturers and AI companies were mixed, with ASML losing 1% while Infineon gained 1.1%.
In the meantime, spirits producer Pernod Ricard rose 1.4% after delivering the second quarter results. Lastly, autos producers were higher despite posting mostly negative numbers in European car registrations, with Chinese EV producer BYD recording a surge.
Source: Trading Economi
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