European Stocks Mixed Following Wave of Data, Earnings
European stocks closed mixed on Wednesday, with the Stoxx 50 down 0.5% while the Stoxx 600 rose 0.5% for a seventh straight session, as investors digested a wave of earnings and downbeat US economic data. Despite early losses, gains in healthcare and banking helped markets recover.
The automotive sector fell 1.2%, as weak earnings overshadowed President Trump’s order softening some auto tariffs. Healthcare stocks gained 1.3%, with GSK, AstraZeneca, and Smith+Nephew saying they’re prepared for tariff impacts. UBS beat expectations with a $1.692B profit, while Barclays also exceeded forecasts.
However, Volkswagen reported a 37% drop in Q1 profit, Stellantis suspended guidance due to trade uncertainty, and TotalEnergies saw an 18% decline on weaker crude. Meanwhile, Eurozone GDP beat expectations, rising 0.4% in Q1 after flat growth in Q4.
Source: Trading Economics