12:06 PM EDT, 06/02/2025 (MT Newswires) -- European stock markets closed mostly lower in Monday trading as the Stoxx Europe 600 was off 0.14% , Germany's DAX fell 0.28%, France's CAC 40 was down 0.19 %, and the Swiss Market Index lost 0.24%, while the FTSE 100 edged up 0.02%.

The HCOB Eurozone Manufacturing PMI compiled by S&P Global, which gauges the health of eurozone factories, rose to 49.4 in May, from 49.0 in April, topping analyst forecasts of 48.4, according to Bloomberg. The increase indicates an easing of the manufacturing sector downturn, S&P said, adding that halfway through Q2 the headline index reached its highest level since August 2022.

In Switzerland, Q1 GDP, adjusted for sporting events, grew 0.8%, compared with 0.6% the previous quarter, according to the Swiss Federal Statistical Office. The FSO said the services sector saw "broad-based growth" and that "domestic demand developed positively." It added that the chemical and pharmaceutical industries expanded above average.

In the UK, the annual house prices rose 3.5% in May, compared with 3.4% in April, according to the Nationwide House Price Index. Analysts had been expecting an increase of 2.9%, according to Bloomberg.

And in corporate news, German biotech firm BioNTech and American pharmaceutical company Bristol Myers Squibb said Monday they have agreed to co-develop and co-commercialize BNT327, an investigational bispecific therapy across various solid tumor types.

Bristol Myers Squibb will make a $1.50 billion upfront payment and $2 billion in non-contingent anniversary payments through 2028, the companies said, adding that BioNTech will also be eligible to receive up to $7.60 billion in additional development, regulatory and commercial milestones.

Microsoft said Monday it is investing $400 million to bolster its cloud and artificial intelligence capabilities in Switzerland. The technology giant said it will expand its existing data centers near Zurich and Geneva and form a partnership with Switzerland Innovation Parks and its sites as part of the initiative.

British pharmaceutical GSK said Monday that its new drug application for linerixibat has been accepted for review by the US Food and Drug Administration for cholestatic pruritus, or relentless itch, in patients with autoimmune liver disease primary biliary cholangitis.

Shares of GSK closed 0.7% higher in London trading.

Finnish telecommunications company Nokia said Monday it has signed a network modernization deal that will allow Vodafone Group's Vodafone Qatar to expand 5G coverage in the country. Shares of Nokia were up 0.9% on the Helsinki exchange, while Vodafone shares edged 0.1% lower.

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