European stocks closed slightly higher Wednesday, as market participants digested a fresh round of corporate earnings and disappointing economic data out of France and Germany.

The pan-European Stoxx 600 closed up 0.05% to 391.73 with autos stocks leading the gains with a near-1.5% rise while the basic resources sector tumbled over 1.2%.

Market focus is largely attuned to economic data and corporate results. PMI (Purchasing Managers’ Index) data showed that a recession in Germany’s manufacturing sector worsened in July with goods producer performance falling to its lowest level in seven year.

Source: CNBC