By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- European stocks trudged higher Wednesday, but the small gains were enough for the region's equity benchmark to log a seventh consecutive win.

The Stoxx Europe 600 index picked up 0.2% to 336.93, spearheaded by finance and metals shares as the index marked its longest string of gains since mid-February. Regional stocks on Tuesday closed up 0.6%,supported by upbeat manufacturing reading from the euro zone and the U.S.

But Wednesday's stock decliners included Deutsche Boerse AG , down 2.2% as the German exchange operator said its Clearstream Banking unit is subject to a criminal investigation in the U.S. related to alleged violations of money laundering and Iran sanction laws.

European stocks moved mildly higher after data released during afternoon trade showed U.S. private-sector employment increased by 191,000 jobs, up from 178,000 in February, according to Automatic Data Processing. That was below expectations of an addition of 200,000 jobs, The Wall Street Journal reported. ADP's figures arrived ahead of the widely watched U.S. monthly jobs report, due Friday.

Equities also held higher after Eurostat's report that producer prices in the euro zone fell in February, by 0.2% on a month-over-month basis, as energy prices declined. In an annual comparison, producer prices fell 1.7%, meeting median expectations.

Deflationary threats to the euro zone increase pressure on the European Central Bank -- which meets Thursday -- to act in an effort "to stimulate the economy and tackle the issue of deflation head on," said ETX market strategist Ishaq Siddiqi, who added in a note that earlier this week, harmonized inflation for the euro zone fell.

Christine Lagarde, managing director of the International Monetary Fund, said Wednesday that "low-flation," particularly in the euro area, is an emerging risk to advanced economies. She called for further monetary easing by the European Central Bank and continued efforts by the Bank of Japan.

Back to stock action, France's CAC 40 moved up 0.1% to 4,430.86, adding to Tuesday's gain that left the index with its highest closing level since September 2008. Finance issues advanced, but overall gains for the CAC 40 were capped in part by steelmaker ArcelorMittal . Its shares were dragged 1.5% lower after a ratings downgrade to neutral from outperform at Credit Suisse, "based on lack of earnings momentum, cycle risk and valuation."

The U.K.'s FTSE 100 settled up by 0.1 % at 6,659.04, led by mining stocks and Marks & Spencer PLC after a report the retailer has plans to expand.

Germany's DAX 30 index rose 0.2% to 9,623.36, with shares of Deutsche Post AG up 4.6% following a projection of earnings growth from the logistics and mail company.

Also, Volkswagen AG said it's signed a deal with labor union at Scania that will go into effect if Volkswagen wins full control of the Swedish truck maker. The auto maker's shares lost grip of gains and closed down by 0.%.

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