11:59 AM EDT, 10/01/2024 (MT Newswires) -- European stock markets closed mostly lower in Tuesday trading as the Stoxx Europe 600 declined 0.44%, the Swiss Market Index was down 0.68%, France's CAC fell 0.81%, Germany's DAX dropped 0.65%, while the FTSE in London was up 0.48%.

Euro area annual inflation decelerated to 1.8% in September from 2.2% in August, according to a flash estimate from Eurostat, the statistical office of the European Union. The highest rates were in Belgium and the Netherlands at 4.5% and 3.3% respectively, while the lowest rates were in Ireland and Lithuania at 0.2% and 0.4% respectively.

The euro area's manufacturing sector fell further into contraction at the end of Q3, according to the HCOB Eurozone Manufacturing PMI compiled by S&P Global, which declined to 45.0 in September - its lowest level so far this year - from 45.8 in August.

In Switzerland, adjusted retail sales rose 1.9% in nominal terms in August compared with the previous year, according to the Swiss Federal Statistical Office. It was the sharpest increase since June. Compared with the previous month, seasonally adjusted retail sales rose 0.2%.

And in corporate news, oil and gas stocks rose in Tuesday trading as oil prices surged amid media reports that Iran is preparing to launch a missile attack against Israel. BP and Shell shares gained 2.4% and 2.2% respectively in London, while Siemens Energy was up 2.2% in Frankfurt and Total Energies closed 1.6% higher in Paris.

Stellantis Chief Executive Carlos Tavares will speak to an Italian parliamentary committee on Oct. 11 about the European automaker's manufacturing in the country, Reuters reported Tuesday, citing a company statement. The CEO will "provide the most exhaustive picture of the group's automotive production in Italy," the report said, quoting the statement. Stellantis did not immediately respond to MT Newswires' request for comment.

AstraZeneca said Tuesday that the US Food and Drug Administration has accepted its supplemental biologics license application for Enhertu to treat adult patients with a specific type of breast cancer. The British pharmaceutical company said it expects a regulatory decision from the FDA on Feb. 1.

UK-based AI software startup Monolith is partnering with Chinese electric vehicle maker Nio to test and enhance electric car battery packs in real-time through Nio's battery swapping services in Europe, Reuters reported, citing both companies. Nio did not immediately respond to requests for comment from MT Newswires.

Tesla increased its market share in Sweden this year despite an ongoing labor conflict affecting the company, Reuters reported Tuesday, citing car sales data from Mobility Sweden. The electric vehicle maker sold 16,478 cars in the first nine months of 2024, a 1% increase from the same period in 2023, Reuters said, adding this raised Tesla's market share to 8.5%, up from 7.8% last year. Tesla did not immediately reply to MT Newswires' request for comment.

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