European stocks closed lower on Thursday as investors digested fresh corporate results and kept an eye on global trade developments.

The pan-European Stoxx 600 was down 0.2% to 386.80 at the closing bell, with technology stocks trimming earlier losses to trade 1.4% lower on the back of German giant SAP’s slide. Health care stocks led gains with a 0.8% rise.

Novartis beat analyst expectations for the second quarter, reporting strong results and raising its guidance for the year, leading its shares 3% higher.

Swedish engineering company Indutrade plummeted 11% to the bottom of the Stoxx 600 after its earnings report, while compatriot Epiroc rose almost 6%.

Asos shares slumped more than 20.5% on Thursday after the British online fashion retailer issued its third profit warning in eight months.

Source: CNBC