12:19 PM EDT, 09/03/2024 (MT Newswires) -- The European stock markets closed lower in Tuesday trading as The Stoxx Europe 600 fell 1%, the Swiss Market Index lost 0.83%, France's CAC dropped 0.93%, the FTSE in London was down 0.78%, and Germany's DAX closed 0.92% lower.

The HCOB Eurozone Manufacturing PMI compiled by S&P Global, which gauges the overall health of eurozone factories, remained unchanged at 45.8 in August from July. The headline index has registered below the 50.0-threshold demarcating contraction since July 2022. Greece registered the highest reading at 52.9 while the lowest reading was from Germany at 42.4.

In the UK, the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index rose to 52.5 in August from 52.1 in July, marking a 26-month high.

In Switzerland, GDP adjusted for sporting events grew 0.5% in Q2 after 0.3% growth in Q1, according to the Swiss Federal Statistical Office. The FSO also reported that the consumer price index was unchanged in August from July and rose 1.1% compared with the same month a year earlier.

And in corporate news, Volkswagen said Tuesday that it may close factories in Germany for the first time ever, according to media reports. The company said in a statement that "in the current situation, even plant closures at vehicle production and component sites can no longer be ruled out," according to reports.

German software firm SAP said Tuesday that Chief Technology Officer Jurgen Muller is leaving the company, effective Sept. 30. In a statement, Muller admitted to and apologized for "inappropriate" and "inconsiderate" behavior at a past company event that led to his departure.

Irish airline Ryanair said Tuesday that it flew 20.5 million passengers in August, an 8% increase from a year earlier, and operated nearly 112,000 flights.

And US-based biotech firm Illumina said Tuesday that the European Court of Justice has ruled that the European Commission did not have jurisdiction over its acquisition of GRAIL, nullifying an earlier fine of 432 million euros ($476.9 million).

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