Feb 5 (Reuters) - European shares were flat on Thursday as investors assessed a mixed bag of earnings from heavyweights Shell and BNP Paribas and also exercised caution ahead of the European Central Bank's verdict on monetary policy.
The pan-European STOXX 600 held its ground at 618.25 points, as of 0817 GMT, hovering near the record-high level touched on Wednesday.
Europe's monetary authority is expected to hold rates at its policy meeting later in the day. But greater focus will be on policymakers'
commentary after data on Wednesday showed underlying inflation cooled faster than expected, exacerbated by a strengthening euro against the dollar.
Regional earnings were dominated by banks and resources companies on Thursday.
BNP Paribas climbed 4.1% after the euro zone's largest lender by assets reported a better-than-expected fourth-quarter profit.
Shares of BBVA fell 4% and weighed on Spain's IBEX index despite the lender reporting higher net profit in the fourth quarter.
Shell slipped 1.6% after the British oil major's fourth-quarter net profit missed expectations.
Offsetting broader declines, regional technology stocks jumped 2% to rebound from a global rout seen earlier in the week. Upbeat results from U.S.-based Alphabet also aided market sentiment.
(Reporting by Avinash P and Johann M Cherian in Bengaluru; Editing by Sherry Jacob-Phillips)
