Europe: 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.