Feb 26 (Reuters) – European shares were muted on Thursday as investors assessed a slate of mixed corporate earnings from the likes of Schneider and Syensqo, while mulling the outlook for artificial intelligence post U.S. chip-leader Nvidia’s strong forecasts.
The pan-European STOXX 600 index was flat at 633.34 points by 0820 GMT. The index was hovering near a record high.
Nvidia forecast first-quarter revenue above market estimates on Wednesday, with shares up 1.1% in Frankfurt trading, reflecting a relatively muted response by investors.
Tech shares globally are under scrutiny at a time when markets are concerned about the disruptions newer AI models can have on traditional businesses, while AI leaders have spent billions on developing AI ecosystems. European tech stocks were marginally higher.
AI hardware maker Schneider Electric reported stronger-than-expected core earnings, driven by robust data centre demand, sending its shares up 3%.
Among other earnings, Belgian chemicals group Syensqo tanked 22.6%, triggering a trading halt after fourth-quarter core earnings missed expectations.
London Stock Exchange Group jumped 3.6% after announcing a share buyback plan at a time the company faces pressure from activist investor Elliott Management and battles concerns AI will squeeze its business model.
(Reporting by Avinash P and Johann M Cherian in Bengaluru; Editing by Mrigank Dhaniwala)
