European stocks close higher to conclude choppy earnings week

European stock markets closed higher Friday as a busy week for earnings drew to a close.

The regional Stoxx 600 index ended the session 0.52% higher, after earnings disappointments led to two sessions in the red. Germany’s DAX closed 0.12% lower as the country heads into its election weekend, while France’s CAC 40 gained 0.39%.

European firms Kingspan, Air Liquide, Sika AG and others reported their fourth-quarter earnings Friday. Standard Chartered beat market expectations, and added nearly 4%.

Building materials firm Kingspan Group said it was seeing “spectacular” growth in its data center division, with sector revenues rising 36% over the year. The stock closed 13% higher.

“A lot of it is driven, unsurprisingly, by the expansion of AI capability worldwide,” said Gene Murtagh, CEO of Kingspan Group on a call with analysts. “If anything, our issue here is being able to build factories at a fast enough pace to keep up with demand, which I guess is a good problem to have.”

Overnight in the United States, the three major averages closed lower after the S&P 500 hit record highs for two consecutive days. Investors sold off shares of some popular companies following a weak forecast from retail giant Walmart, which raised concerns about the economic outlook.