A customer inspects the interior of a BMW 6 Series Gran Turismo automobile at a BMW AG showroom in Berlin, Germany, on March 14, 2023.
This is CNBC's live blog covering European markets.
European markets closed higher on Wednesday as investors digested more earnings reports in the region.
The Stoxx 600 index ended up 0.3%, with most sectors and major bourses in positive territory. Food and beverage stocks were up 1.8%, while mining stocks dipped 1.3%.
Shares of BMW fell 3% after the company reported a lower first-quarter profit margin amid higher costs and muted demand for its luxury cars.
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Meantime, shares of Germany's Siemens Energy jumped 12.8% after the company raised its 2024 outlook on the back of strength in its power grid business.
Alstom, Skanska, ABInbev, Swatch Group and Munich Re were among the other companies reporting Wednesday.
Elsewhere, Sweden's central bank cut interest rates for the first time in eight years on Wednesday in another sign of monetary policy divergence between the U.S. and Europe.
Money Report
On Wall Street, stocks were mixed on Wednesday as investors shook off some weakness in tech.
Asia-Pacific markets were largely down overnight as investors parsed through earnings from the region and awaited results of Japanese giants Toyota and Mitsubishi.
Europe markets close higher
European markets closed slightly higher on Wednesday, with most sectors and major bourses ending in positive territory.
The pan-European Stoxx 600 provisionally ended 0.3% higher, with food and beverages stocks up 1.7% for the session.
— Sam Meredith
Puma shares up 11%
Shares of Puma rose nearly 11% on Wednesday after the German sports retailer reported first-quarter earnings in line with expectations and predicted growing demand for its retro Palermo sneakers.
The stock price, which was last seen up 10.9%, was on track for its best day since March 2022, according to Reuters.
— Sam Meredith
Stocks open Wednesday in the red
The Dow Jones Industrial Average opened 69 points lower, or roughly 0.2%. The S&P 500 and the tech-heavy Nasdaq Composite were down 0.4% and 0.6%, respectively.
— Pia Singh
Oil prices dip
Oil prices were lower on Wednesday as energy market participants digested industry data and monitored the outlook for demand.
International benchmark Brent crude futures for July delivery traded 0.8% lower at $82.49 per barrel at around 2:15 p.m. London time, while U.S. West Texas Intermediate futures for June delivery traded 0.8% lower at $77.76.
— Sam Meredith
Stocks on the move: AB InBev up 4.3%, Zalando down 3.9%
Shares of global beer giant AB InBev were up 4.3% by midday on Wednesday after the company posted higher first-quarter revenue and profit as it recovered from a boycott of its Bud Light brand.
Meanwhile, shares of German fashion retailer Zalando fell 3.9% after it reported a dip in first-quarter sales on Tuesday.
— Karen Gilchrist
Sweden's central bank cuts rates for first time in eight years
Sweden's central bank cut interest rates for the first time in eight years on Wednesday in another sign of monetary policy divergence between the U.S. and Europe.
The Riksbank trimmed its main interest rate by 0.25 percentage points to 3.75% and said that two more cuts could be expected if inflation continues to show signs of easing.
"If the outlook for inflation still holds, the policy rate is expected to be cut two more times during the second half of the year," the bank said in a statement.
— Karen Gilchrist
BMW shares fall 3% on first-quarter profit miss
Shares of German automaker BMW fell 3% on Wednesday after the company reported a lower first-quarter profit margin amid higher costs and muted demand for its luxury cars.
BMW's earnings before taxes margin in its car division fell to 8.8% from the same quarter last year and the 9.2% analysts had anticipated.
— Karen Gilchrist
Siemens Energy shares jump 9.5%
Shares of Germany's Siemens Energy jumped 9.5% in morning deals after it raised its 2024 outlook on the back of the strength of its power grid business.
In announcing its second-quarter earnings Wednesday, the company said it now expects revenues to grow by 10%-12% in 2024.
— Karen Gilchrist
CNBC Pro: These tech stocks beat the S&P 500, and analysts still give them over 20% upside
U.S. stocks have been rather volatile in the past month, but in the past week they had a strong run on hopes of rate cuts.
The Dow Jones Industrial Average had its fourth consecutive winning session on Monday, and the S&P 500 also climbed for the past four days.
Tech stocks, which would be boosted by rate cuts, have been a big part of that rally — with Meta, Alphabet and Amazon in particular having a strong showing over the past couple of weeks.
Elsewhere, analysts are getting more optimistic on China stocks, especially those in the tech sector.
CNBC Pro screened FactSet for stocks from four exchange-traded funds. Here are eight that turned up on the screen.
CNBC Pro subscribers can read more here.
— Weizhen Tan
CNBC Pro: Gold stocks and ETFs to buy right now, according to the pros
Macroeconomic uncertainties and mounting geopolitical tensions have given gold — the classic "safe haven" asset — a boost.
Gold prices topped $2,400 an ounce in April as tensions in the Middle East escalated. Spot gold is currently trading around 12% higher over the year to date.
Kevin Teng, CEO of wealth manager Wrise Group, said he expects the precious metal to yield substantive returns in the long term, and picked his favorite stocks and ETFs to cash in.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
European markets: Here are the opening calls
European markets are expected to open in mixed territory Monday.
The U.K.'s FTSE 100 index is expected to open 15 points lower at 8,422, Germany's DAX up 23 points at 18,781, France's CAC 8 points higher at 8,201 and Italy's FTSE MIB up 15 points at 34,332, according to data from IG.
Earnings are due from Ferrovial. There are no major data releases.
— Holly Ellyatt
