Puma down on lowerthanexpected annual profit
Swedbank beats Q4 profit estimates, shares rise
Essity falls on downbeat Q4 earnings
STOXX down 0.1

Jan 23 Reuters European shares pulled back from their record highs on Thursday, as technology stocks fell and sportswear retailer Puma slipped to near sevenyear low due to weakerthanexpected earnings.

The panEuropean STOXX 600 was down 0.1 at 1002 GMT. The benchmark had hit an alltime intraday high on Wednesday.

Puma slumped 16.1 as it delayed its margin target and decided to cut costs after reporting a worsethanexpected annual profit. Rival Adidas had on Tuesday reported betterthanexpected preliminary fourthquarter results.

Strong updates from Adidas got people excited and the fact that Puma has come out with completely opposite message has sort of shocked people, said Daniel Coatsworth, investment analyst at AJ Bell.

Among the sectors, technology slid 1.5, led by a 4 decline in computer chip equipment supplier ASML.

Tech stocks had rallied in the previous session, spurred by U.S. President Donald Trump39;s mammoth spending plans for artificial intelligence infrastructure.

The mining sector slipped 0.8 as metal prices declined due to Trump39;s tariffcentric threats.

Investors are concerned about the persistent protectionist rhetoric by Trump, who has pledged to hit the European Union with tariffs that are likely to be issued on Feb. 1.

Limiting losses on STOXX 600, the banks index gained 0.7 after Swedbank proposed…