12:19 PM EST, 11/20/2024 (MT Newswires) -- The European stock markets closed lower in Wednesday trading as The Stoxx Europe nudged 0.01% lower, Germany's DAX was down 0.31%, the FTSE in London was off 0.17%, France's CAC fell 0.43%, and the Swiss Market Index was closed 0.02% lower.

The European Central Bank said in its November Financial Stability Review Wednesday that it sees elevated financial stability vulnerabilities in a volatile environment.

"Risks to euro area economic growth have shifted to the downside as inflation has moved closer to 2%, while financial markets have experienced several pronounced but short-lived spikes in volatility in recent months," ECB Vice-President Luis de Guindos said in a statement. "The outlook for financial stability is clouded by heightened macro-financial and geopolitical uncertainty together with rising trade policy uncertainty."

The seasonally adjusted production in construction decreased 0.1% in both the euro area and the EU in September compared with August, according to preliminary estimates from Eurostat, the statistical office of the European Union. Compared with a year earlier, production in construction decreased 1.6% in the euro area and 2.0% in the EU.

In the UK, the consumer prices index rose 2.3% on an annual basis in October, up from 1.7% in September, according to the Office for National Statistics. The ONS also reported that producer annual input prices declined 2.3% in October, compared with a 1.9% drop in the year to September.

And in corporate news, Ford Motor is planning to eliminate 4,000 more jobs in Europe, mainly in Germany and the UK by the end of 2027, Bloomberg reported Wednesday. The reductions amount to approximately 14% of Ford Europe's workforce.

Nokia said late Tuesday that T-Mobile did not make any decision to end its relationship with the Finnish telecommunications company. T-Mobile said in a statement that media reports suggesting otherwise are "untrue."

Pfizer said Wednesday the European Commission has granted marketing authorization for Hympavzi for routine treatment of bleeding episodes in certain patients with severe hemophilia A or B.

Automotive stocks were trending lower in Wednesday trading as Mercedes Benz and Porsche fell 1.9% and 1.8% respectively on the DAX, followed by Volkswagen, which was down 1.5%. And in Paris, shares of Renault and Stellantis declined 2.2% and 1.5% respectively.

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