European Stocks Rebound on Thursday

European stocks closed sharply higher on Thursday, enough to erase losses from the last three sessions as markets assessed a batch of key corporate returns and reassessed the outlook of European trade.

The Eurozone's STOXX 50 gained 1.6% to close at 5,370 and the pan-European STOXX 600 advanced 1% to close at 547.

Schneider Electric soared 7.7% to lead the gains in the Eurozone equity markets after Legrand signaled strong data center and power infrastructure demand, also lifting Siemens by 4%.

In the meantime, ASML jumped 3.9% to trim its plunge from the previous session on the pessimistic guidance.

Banks and other tech stocks also closed higher.

On the other hand, Nordea dropped 2.7% after posting smaller profits than expected.

Outside the Eurozone, ABB soared 9.9% after reporting a record order intake.

On the other hand, Novartis fell nearly 2% even though it beat profit expectations and announced a $10 billion share buyback.