European equities traded mixed Wednesday as investors braced for U.S. President Donald Trump’s address at the World Economic Forum. Germany’s DAX fell 0.3%, France’s CAC 40 was flat, while the U.K.’s FTSE 100 edged up 0.1%. The cautious sentiment follows Trump’s threat of escalating tariffs on European allies to pressure Denmark over Greenland’s potential acquisition.

Trump’s Greenland push, calling it a security necessity, has strained transatlantic ties and overshadowed economic data. ECB President Christine Lagarde noted a potential slight inflationary impact from U.S. tariffs, with Germany more exposed than France, urging the bloc to scrap internal trade barriers. U.K. inflation unexpectedly rose to 3.4% in December, the highest in the G7.

Corporate results offered a mixed picture. Burberry and Premier Foods beat holiday-quarter expectations, while Atos met its revenue target. In contrast, Barry Callebaut’s sales fell, and INPost saw strong parcel growth. Netflix’s stock slipped despite beating earnings, as it paused buybacks to fund a bidding war for Warner Bros. Discovery, adding to market uncertainty.