11:59 AM EDT, 10/16/2024 (MT Newswires) -- The European stock markets closed mostly lower in Wednesday trading as the Stoxx Europe 600 was off 0.15%, the Swiss Market Index declined 0.21%, France's CAC dropped 0.40%, Germany's DAX was down 0.18%, while the FTSE in London closed nearly 1% higher.

In the UK, the consumer price index rose 1.7% in the 12 months to September, down from 2.2% in August, according to the Office for National Statistics. On a monthly basis, CPI was relatively flat, down from a 0.5% increase a year earlier.

The ONS also reported that producer input prices dropped 2.3% in the 12 months to September, down from a 1% decrease during the 12 months to August. Meanwhile producer output prices fell 0.7% in the year to September, compared with a revised 0.3% increase during the 12 months to August. On a monthly basis, producer input prices fell 1.0%, while output prices were down 0.5% in September.

In Italy, the consumer price index was down 0.2% in September on a monthly basis and up 0.7% on an annual basis, according to the Italian National Institute of Statistics, which attributed the deceleration of inflation mainly to the prices of energy products.

And in corporate news, shares of ASML dropped more than 5% in Wednesday trading in Amsterdam after the Dutch semiconductor company reported Tuesday 2025 revenue guidance that fell short of analyst expectations.

British pharmaceutical company GSK said Wednesday that the US Food and Drug Administration has accepted a new drug application for gepotidacin to treat uncomplicated urinary tract infections in female adults and adolescents.

And Finnish telecommunications company Nokia is in discussions with Indian telecommunications company Bharti Airtel regarding a possible multi-billion dollar contract to provide 5G telecom equipment, Reuters reported Wednesday citing sources familiar with the matter. Nokia and Bharti Airtel did not immediately respond to requests for comment from MT Newswires.

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