European markets close higher as investors react to more earnings; Sweden's central bank cuts rates

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.

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.

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.

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

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

The Dow Jones Industrial