The European stock markets closed higher in Wednesday trading as The Stoxx Europe 600 rose 0.29%, Germany's DAX gained 0.16%, The FTSE 100 rose 0.37%, France's CAC 40 was up 0.50%, and the Swiss Market Index increased 0.42%.

Seasonally adjusted GDP in Q1 grew 0.4% in the eurozone, up from 0.2% the previous month. The growth rate topped analyst expectations of 0.2% growth, according to Bloomberg. In the EU, GDP growth was 0.3% compared with the previous quarter. Compared with a year earlier, seasonally adjusted GDP grew 1.2% in the euro area and 1.4% in the EU.

The only countries that did not register GDP growth were Sweden, which was stagnant, and Hungary, which saw a 0.2% decline in growth.

In France, annual inflation is expected to rise 0.8% in April, according to preliminary estimates from the Institute of Statistics and Economic Studies, which said declining energy prices are likely to be partially offset by rising food prices.

And in corporate news, Stellantis reported Q1 net revenue Wednesday of 35.81 billion euros ($40.73 billion), down 14% year over year. The European automaker said it is suspending its full-year outlook, citing "evolving tariff policies, as well as the difficulty predicting possible impacts on market volumes and the competitive landscape."

Shares of Stellantis declined 1.8% in Paris trading

UBS Group reported Q1 earnings Wednesday of $0.51 per diluted share, down from $0.52 a year earlier. Total revenue for the quarter ended March 31 was $12.56 billion, compared with $12.74 billion a year earlier. "The prospect of higher tariffs on global trade presents a material risk to global growth and inflation, clouding the interest rate outlook," the bank said.

Shares of UBS were down 0.40% in Zurich.

GSK reported Q1 core earnings Wednesday of 0.45 UK pounds ($0.60) per diluted share, up from 0.43 pounds a year earlier. Revenue for the quarter ended March 31 was 7.52 billion pounds, up from 7.36 billion pounds a year earlier.

Shares of the British pharmaceutical company closed 3.5% higher on the FTSE.

Banco Santander reported Q1 earnings Wednesday of 0.21 euros ($0.24) per diluted share, up from 0.17 euros a year earlier. Three analysts polled by FactSet expected 0.21 euros.

Shares of Banco Santander dropped 4% in Madrid bolsa.

TotalEnergies reported Q1 adjusted earnings Wednesday of $1.83 per diluted share, down from 2.14 a year earlier. Revenue for the quarter ended March 31 was $47.90 billion, down from $51.88 billion a year earlier. Analysts surveyed by FactSet expected $44.27 billion.

Shares of TotalEnergies fell 2.6% on the Parisian bourse.