Ubisoft gains on higher Q3 net bookings
Deutsche Pfandbriefbank extends slide
Saab gains on raising midterm sales target

Feb 9 Reuters European shares were trading flat on Friday, as gains in healthcare stocks and video games group Ubisoft were offset by a rise in government bond yields following a pullback in aggressive bets on early interestrate cuts.

The panEuropean STOXX 600 index was unchanged at 485.12 points, as of 0928 GMT.

Ubisoft jumped 15.9 after the video games group reported thirdquarter net bookings slightly above its forecast.

Healthcare stocks led advances, helped by a 9.1 rise in Coloplast after the Danish medical equipment maker reported betterthanexpected firstquarter results.

Focus was also on luxury stocks as Hermes shares rose 4.3, notching a fresh record high after the Birkin bag maker39;s sales jumped in the fourth quarter.

Weighing on the index, L39;Oreal dropped 6.7 after the French cosmetics company reported underwhelming fourthquarter sales growth.

Fourthquarter earnings are estimated to decrease 7.6 yearonyear for STOXX 600 firms, according to LSEG data, with just about 55 of the 85 companies that have reported so far beating profit expectations.

Companies have been in a high input cost environment for a long time and we39;re seeing a slow down in demand. So the way they are trying to manage is by giving out on margins, said Anthi Tsouvali, multi asset strategist at State Street Global Markets.

While some strong quarterly…