Europe close: Stocks end mixed ahead of ECB rate meeting

European shares finished on a mixed note on Wednesday, despite strong corporate news and ahead of key European and UK central bank meetings on Thursday.

The pan-European Stoxx 600 index was up 0.45% at 477.01, alongside a 0.60% advance to 27,388.73 for the FTSE Mibtel, but Germany's Dax drifted 0.04% lower to 15,613.77.

"After leaping higher in previous sessions, gains are becoming a little harder to come by for equity markets," said IG chief market analyst Chris Beauchamp.

"A sharp reverse in the ADP payrolls figure has not helped sentiment, but there will be those who are hoping for a resumption of ‘bad news = good news’ for stocks, if a series of poor economic figures causes the Fed to rein in its tightening ambitions, even if they don’t get rid of them entirely."

Beauchamp was referring to consultancy ADP private sector payrolls report, which revealed a 301,000 drop (consensus: 180,000) for the month of January due to the hit to activity from Omicron.

In equity news, TeamViewer shares soared 15% as the company announced a share buyback and fourth-quarter revenue growth.

Online supermarket Ocado gained 6% after a double upgrade to ‘outperform’ by Credit Suisse.

Swedish industrial technology group Hexagon gained 5% after beating market expectations with record quarterly earnings.

Shares in German chip supplier Siltronic slipped 2% despite the company reporting a 17% rise in quarterly earnings and saying it expected semiconductor demand to increase.

Novo Nordisk shares were up 4% despite the Danish drug maker missing expectations for fourth-quarter operating profit.

Telecoms giant Vodafone gained 3% after it reported higher third-quarter services revenue, driven by growth in Europe and Africa as it reiterated annual guidance.

Playtech edged up after the gambling software group said it was unlikely shareholders would approve a takeover offer by Australia’s Aristocrat Leisure based on proxy counts, and that it was looking at "attractive alternatives" if the deal collapsed.

Swiss bank Julius Baer fell 6% as it missed estimates on costs.