Investing.com - European equity indices edged higher in tight trading ranges Wednesday, as investors waded through a deluge of quarterly corporate earnings ahead of the release of key regional growth data.

At 03:02 ET (07:02 GMT), the DAX index in Germany climbed 0.3%, the CAC 40 in France gained 0.2% and the FTSE 100 in the U.K. rose 0.2%.

Quarterly corporate earnings

The pan-European Stoxx 600 index recorded a sixth straight positive session on Tuesday, extending its longest winning streak since January, as a turbulent April draws to a close.

That said, this benchmark index is on track to register a monthly loss of around 1.5% as investors digested the uncertain trade outlook brought around by U.S. President Donald Trump’s ever-changing tariff announcements.

Quarterly corporate earnings are back in focus, with a number of Europe’s senior companies reporting their results during the session.

Stellantis (NYSE: STLA ) reported a 14% drop in revenue in the first quarter, with the auto giant stating it was suspending its guidance for a moderate recovery this year, after a profit drop in 2024, due to the uncertain impact of evolving U.S. tariff policies.

Mercedes-Benz (OTC: MBGAF ) reported that its net profit fell sharply in the first quarter of 2025, and  pulled its earnings guidance for 2025 amid uncertainty over the impact of the U.S. tariffs on car imports.

Fellow German auto giant Volkswagen (ETR: VOWG_p ) followed suit, reporting a substantial drop in first-quarter profit, adding that the U.S. tariffs could weigh further on its outlook.

French oil major TotalEnergies (EPA: TTEF ) reported a 17% drop in adjusted net income for the first quarter, after oil prices fell and margins for refining fuels in Europe struggled to recover from a steep collapse in 2024.

On the flip side, British bank Barclays (LON: BARC ) reported slight beats on the top and bottom line, boosted by stronger investment bank performance.

Similarly, Swiss lender UBS (NYSE: UBS ) posted first-quarter profit ahead of analyst expectations, driven by a strong performance in its investment bank and continued risk-weighted asset reductions in its non-core unit..

Eurozone growth data eyed

There is also a slew of economic data for investors to pore over on Wednesday as they attempt to work out the impact of the volatile U.S. trade policies on regional businesses.

German retail sales fell less than expected in March, dropping by 0.2% compared with the previous month, instead of the forecast 0.4% decrease, while French gross domestic product rose a meager 0.8% on an annual basis in the first quarter.

Growth data for the wider eurozone bloc as well as German inflation numbers are due later Wednesday, and are likely to support the case for further rate cuts by the European Central Bank , with markets expecting another round of easing in June.

Across the pond, U.S. GDP data and the core PCE price index take center stage, ahead of Friday’s key payrolls release.

Earlier in the session, China’s official manufacturing Purchasing Managers’ Index fell to 49.0 in April, down from 50.5 in March - the first contraction in factory activity since December 2023 and is attributed to the intensifying trade war with the U.S..

Crude prices set for hefty monthly drop

Oil prices fell Wednesday, on course for their largest monthly drop in more than three years as the global trade war hit demand growth forecasts.

At 03:02 ET, Brent futures dropped 1% to $62.64 a barrel, and U.S. West Texas Intermediate crude futures fell 1.1% to $59.73 a barrel.

Both contracts have lost over 15% so far this month, the biggest percentage drop since November 2021.

Worries about demand amid the trade war have weighed on investor sentiment, and the weak Chinese manufacturing activity data, released earlier Wednesday, have played into this narrative.