European stocks closed mixed on Wednesday, with the Stoxx 50 down 0.5% while the Stoxx 600 gained 0.5% for a seventh straight session, as investors digested a wave of earnings and downbeat U.S. economic data. Despite early losses, gains in health care and banking helped the market recover. Autos fell 1.2%, as weak earnings overshadowed President Trump's order to ease some auto tariffs. Health care stocks rose 1.3%, with GSK, AstraZeneca and Smith+Nephew saying they were prepared for the impact of tariffs. UBS beat expectations with earnings of $1.692 billion, while Barclays also beat estimates. However, Volkswagen reported a 37% drop in Q1 profit, Stellantis suspended guidance due to trade uncertainty, and TotalEnergies fell 18% on weaker crude. Meanwhile, Eurozone GDP beat expectations, rising 0.4% in Q1 after flat growth in Q4. (Newsmaker23)
Source: Trading Economics
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