The benchmark had hit an all-time intraday high on Wednesday.
European stocks rise on Trump's Davos speech; Puma slumps
European shares closed higher on Thursday, buoyed by President Donald Trump's address to the World Economic Forum in Davos, while declines in heavyweight technology stocks tempered gains.
The pan-European STOXX 600 climbed 0.4% to close at 530.34 points, marking its seventh consecutive day of gains - its longest winning streak in over a month.
The benchmark had hit an all-time intraday high on Wednesday.
The STOXX 600 experienced a late-session jump as President Donald Trump delivered a speech remotely at the World Economic Forum in Davos, Switzerland. In his address, Trump called for an immediate reduction in interest rates and urged other nations to adopt similar measures.
He also said businesses should make their products in the U.S. if they want to avoid facing a tariff.
Limiting gains, were technology stocks that slid 1.5%, led by a 4.4% decline in computer chip equipment supplier ASML
Puma slumped 22.8% as it delayed its margin target and said it would cut costs after reporting a worse-than-expected annual profit. Rival Adidas had on Tuesday reported better-than-expected preliminary fourth-quarter results.
Tech stocks had rallied in the previous session, spurred by U.S. President Donald Trump's mammoth spending plans for artificial intelligence infrastructure.
