Europe close: Stocks end on mixed note ahead of Easter

The benchmark Stoxx Europe 600 edged up 0.19% to 381.90, as Germany’s DAX gained 0.13% to 12,154.70 but the CAC slipped 0.01% at 12,154.70.

FXTM research analyst Lukman Otunuga said that "although European markets have displayed some resilience by opening higher this morning gains may be capped, especially if anxiety mounts ahead of the French presidential elections. With the overall trading mood subdued and participants adopting a cautious stance in this tense environment".

Auto stocks were on the front foot, despite Daimler falling 2.12% even after better-than-expected first-quarter profits, lifted by earnings from Mercedes-Benz.

This was followed by a 0.39% gain from BMW after the German carmaker reported a 5.3% rise in first-quarter sales year-over-year, while Volkswagen added 0.14% afters its sales rose 2.5%.

Meanwhile, oil prices broke a run of seven straight days of gains on hopes of an extension to the OPEC-led production cut.

Brent crude dipped 0.81% to $55.78 per barrel.

In currency markets, the euro was essentially flat versus the dollar, ticking down 0.01% to 1.0605 and off 0.04% against the pound at 0.8486.

Analysts at Monex Europe said the single currency was particularly averse to political risk, especially in light of the attempted bus bombings in Germany on Tuesday night and the upcoming French election.

The yield spread between French and German 10-year government bonds eased back after rallying on Tuesday on concerns about the French election and the rise of far-left candidate Jean Luc Mélenchon.

Elsewhere, geopolitical concerns were still in play for investors as US president Donald Trump told Fox News that he would not enter the Syrian civil war. He was forced to clarify his position on Syria after the US launched missile strikes on the Syrian government, which is backed by Russia, after a chemical attack on civilians last week.

There is no headline European data released on Wednesday, although Germany’s wholesale price index released earlier showed a 0.0% change in March.