2018.02.2121:51:00UTC+00European Markets Mostly Higher as Investors Eyed Earnings

European equities ended higher on Wednesday, as investors focused on further earnings reports and data releases.

The pan-European Stoxx 600 climbed 0.16 percent, although business sectors and major bourses were pointing in different directions. It showed a swing to the upside, given that markets were trading mostly negatively earlier in the afternoon.

Basic resources rallied to finish 1.6 percent higher, making it the best performing sector. Miner Glencore topped the European benchmark after announcing that its 2017 full-year results were the best ever on record with an overall adjusted profit of $14.76 billion, according to a news report from Reuters. The stock closed 5.2 percent higher.

Financial services and travel also traded higher, closing up 0.94 and 0.92 percent respectively.

Deutsche Boerse advanced 2.9 percent. At a press conference, the German stock exchange operator's new CEO said that his company was targeting a quarter of the euro clearing market from London as Brexit gets underway, Reuters reported.

Technology equities ended just below the flat line, paring losses made earlier in the day on earnings news. The French IT services company Atos posted a net profit growth of 11 percent, slightly below analyst expectations. The stock closed 5.4 percent lower.

Oil and gas stocks were also slightly in the negative territory, ending 0.18 percent lower. They also pared earlier losses, this time caused by ratings downgrades. Siemens Gamesa, for example, closed 1.7 percent lower after JP Morgan cut the stock to underweight.