Reaction: Europe trades higher; Volkswagen falls; ECB eyed

Squawk Box Live watched as European shares traded higher ahead of the European Central Bank meeting on Thursday at which further stimulus measures are widely expected to be announced.

Shares of Volkswagen were among the worst-performing European stocks on Wednesday after the troubled carmaker had its credit rating cut by Standard & Poor's.

CNBC was also live in Madrid ahead of the national election in three weeks' time. Highlights included an exclusive interview with Spanish Economy Minister Luis de Guindos.

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