European stocks ping-ponged between small gains and losses Thursday, as investors sifted through earnings reports and assessed the mixed tone on US interest rates from the Federal Reserve.

The Stoxx Europe 600 was up less than 1 point at 373.51. Utility and consumer-related shares fell, but the telecoms and oil and gas sectors advanced. The pan-European benchmark on Wednesday finished unchanged at 373.38, but held near its best levels since late 2015.