12:01 PM EDT, 09/30/2024 (MT Newswires) -- The European stock markets closed lower in Monday trading as the Stoxx Europe 600 fell 0.95%, the Swiss Market Index dropped 0.53%, France's CAC shed 2%, the FTSE in London lost 1.01%, and Germany's DAX declined 0.68%.

The inflation rate in Germany, as measured by the change in the consumer price index, decelerated to an estimated 1.6% in September compared with the same month last year, according to the Federal Statistical Office. The FSO also said the core inflation rate, which excludes food and energy prices, was expected to be 2.7%.

In the UK, gross domestic product grew an estimated 0.5% in Q2, revised down from a first estimate of 0.6%, according to the Office for National Statistics.

In Italy, the consumer price index was -0.2% on monthly basis and 0.7% on an annual basis, according to preliminary estimates from the Italian National Institute of Statistics.

And in corporate news, shares of European automaker Stellantis fell 15% in Paris after it lowered its 2024 adjusted operating income margin forecast due to increased remediation efforts in North America and challenges in the global market. Other European automaker stocks also declined, as Porsche dropped 3% on the DAX, while fellow German automakers BMW, Mercedes Benz, and Volkswagen were down 2.5%, 2.3%, and 2% respectively.

Shares of Rightmove fell nearly 8% in London after Rupert Murdoch-backed REA Group dropped its bid to acquire the British real estate company, according to media reports Monday.

TotalEnergies is expected to sign a final investment decision Tuesday for a greater than $10 billion offshore oil and gas development in Suriname, Reuters reported Monday, citing four sources with knowledge of the matter.

And British telecommunications operator Vodafone Group said it would no longer require shareholder approval for the sale of its Italian operations to Swisscom as new UK listing rules became effective, according to a notice from the London Stock Exchange Monday.

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