Mixed earnings prompt choppy trade in European stocks

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* STOXX Europe 600 flat

* Henkel (LSE: 0IZ8.L - news) , KBC among top gainers after results

* But K+S (Other OTC: UBGXF - news) falls on profit warning

* Energy stocks under pressure from falls in oil

By Alistair Smout

LONDON, Aug 11 (Reuters) - European shares were mixed on Thursday as investors digested a welter of earnings reports, with German firms Henkel at a record high after lifting its outlook and K+S weighed down by a profit slump.

Germany's Henkel rose 3.9 percent to a record high after results that beat expectations in which the consumer group lifted its guidance for its core profit margin.

It (Other OTC: ITGL - news) was the top riser on Germany's DAX, which rose 0.2 percent to outperform major European peers.

Also in Germany, shares of SAP (Amsterdam: AP6.AS - news) and Adidas climbed to record highs.

But German potash and salt miner K+S fell 5.5 percent after it said it expected its operating profit to more than halve in 2016.

Thyssenkrupp (LSE: 0O1C.L - news) also dropped 1.5 percent after its third quarter sales missed expectations.

Outside of Germany, the top faller was Old Mutual (Other OTC: ODMTY - news) , down 6 percent after it posted a profit drop of 9 percent, which was a worse performance than had been expected.

"Adjusted operating profit came in well behind our and consensus' estimates, driven by significantly weaker UK Wealth Management earnings than expected," analyst at UBS (LSE: 0QNR.L - news) said in a note.

Old Mutual was the biggest faller on the STOXX 600, which was flat at at 343.85 points by 0811 GMT.

Commodity stocks in the mining and oil sectors were the biggest fallers. Brent crude fell overnight, pegging back Wall Street and Asian shares, after data showed an unexpected build in U.S. crude supplies.

"With US stockpiles growing unexpectedly yesterday and reports that OPEC production has risen, many investors will expect further declines into the end of the week," said Augustin Eden, research analyst at Accendo Markets.

The FTSE 100 underperformed, down 0.5 percent, as it was hindered by some stocks trading without entitlement to their latest dividend payouts, trimming 37 points off the index.

Among risers, hearing aid and headset maker GN Store Nord (LSE: 0K9P.L - news) surged 7 percent, the top STOXX 600 gainer, after it posted strong second quarter growth.

Belgian financial group KBC rose 5 percent, after reporting a year-on-year rise in net profit in the second quarter as loan and deposit volumes grew in most of its core markets and it kept costs low.

With (Other OTC: WWTH - news) 80 percent of companies having reported results on the STOXX 600, 60 percent have beaten or met expectations. (Editing by Raissa Kasolowsky)