Key facts
- European shares were little changed on Thursday.
- Nvidia's strong revenue forecast boosted technology stocks.
- Weakness in consumer goods, chemicals, and auto stocks limited broader gains.
- Oil prices fell more than $1.
- Qatar's prime minister was scheduled to visit Tehran.
European shares traded flat on Thursday, with gains in technology stocks driven by AI chip firm Nvidia's strong revenue forecast offset by weakness in consumer goods, chemicals, and auto sectors. The pan-European STOXX 600 index was down 0.07% at 655.95 points as of 0709 GMT.
Nvidia forecast a 70% jump in revenue for the next fiscal year, highlighting sustained 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%.
Conversely, personal and household goods, chemicals, and auto stocks fell between 0.7% and 0.9%, limiting broader market gains. Meanwhile, oil prices fell more than $1, extending a streak of losses, on expectations that potential talks between Iran and Qatar might ease supply disruptions.
Qatar's prime minister was scheduled to visit Tehran on Thursday, aiming to relaunch diplomacy amid U.S. and Iran exchanges over increased economic pressure on Tehran.