European stocks steady despite mixed earnings

European stocks were steady on Thursday, below the previous session’s record high, as technology stocks retreated, while telecoms and utilities gained, offsetting gains and investors weighed a mixed bag of corporate earnings.

The pan-European Stoxx 600 index was little changed after hitting an all-time high yesterday, with technology shares down 1.2 percent, pressured by a 3.6 percent drop in chip equipment supplier ASML.

Sportswear maker Puma plunged 16.1 percent after reporting lower-than-expected annual profit, delayed its profit margin target and announced a cost-cutting program.