Europe stocks close lower; Schneider Electric shares rise 3% as record profit beats expectations

European stock markets closed lower on Thursday amid the latest flurry of earnings releases.

The regional Stoxx 600 index was choppy in early deals but provisionally ended the session 0.18% lower.

Shares of Schneider Electric rose 6% before paring gains to close 3% higher, after the French energy management firm reported record annual sales and profits, beating market expectations.

Earnings from corporates including Accor, Renault, Mercedes-Benz, Leonardo and Airbus were also in focus as the trade session kicked off.

U.S. President Donald Trump’s proposed tariffs on autos, chips and pharmaceutical imports, and the possibility that the Federal Reserve keeps interest rates higher for longer, are meanwhile being assessed by global traders on Thursday.

Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.