European shares stabilize in volatile trading

European shares settled on Thursday in volatile trading after a series of positive corporate results, while mining stocks fell more than two percent with Anglo American slumping after it cut production expectations.

The pan-European Stoxx 600 index was little changed by 0723 GMT.

Mining stocks fell 2.4 percent, leading the index for the second day in a row, after Anglo American said its first-quarter production fell 10 percent year-on-year and cut its full-year forecast.

The mining company’s shares fell 6.1 percent.

Nestle shares rose 1.6 percent after the food group confirmed its targets for this year, as higher prices helped boost sales of quarterly organic products more than expected.

Engineering and technology company ABB rose 3.8 percent after it posted a big rise in orders during the first quarter.

Meanwhile, European Central Bank Vice President Luis de Guindos said in an interview published on Thursday that the bank should end its asset purchase program in July and may raise interest rates in the same month or in September or thereafter.