European stocks traded cautiously higher amid earnings data

European stocks traded cautiously higher early Wednesday, amid an earnings deluge, but supported by gains for oil stocks.

The Stoxx Europe 600 index opened flat, while the German DAX 30 index DAX, +0.39  rose 0.4 percent and the FTSE 100 index UKX, +0.97 percent added 0.3 percent.

The Federal Reserve concludes its meeting Wednesday, while the European Central Bank will meet Thursday. Investors expect central bank to continue to offer verbal support to markets, though concrete measures aren’t widely expected, given the big moves seen in recent weeks.

After British Airways said it would cut up to 12,000 jobs, shares of International Consolidated Airlines Group IAG, -3.25% slid over 4 percent. Airbus SE AIR, +5.48 percent shares rose 2 percent after the aircraft maker posted a net loss and falling revenue. Deutsche Bank DB, +2.39% DBK, +5.39 percent gained 2.9 percent and Barclays PLC BARC, +7.67 percent uk:bcs climbed 5 percent , as each reported results.