12:03 PM EDT, 04/01/2025 (MT Newswires) -- European stock markets closed higher in Tuesday trading as The Stoxx Europe 600 rose 1.08%, Germany's DAX climbed 1.67%, the FTSE 100 in London was up 0.61%, France's CAC 40 advanced 1.1%, and the Swiss Market Index gained 0.70%.

Euro area annual inflation is estimated at 2.2% in March, down from 2.3% in February according to a flash estimate from Eurostat, the statistical office of the EU. The highest annual inflation rates were in Croatia, Estonia, and Slovakia at 4.3% each. France had the lowest annual inflation rate at 0.9%, followed by Luxembourg at 1.5%, and Ireland at 1.8%.

Eurostat also reported that the euro area seasonally-adjusted unemployment rate was 6.1% in February, down from 6.2% in January and 6.5% a year earlier.

The HCOB Eurozone Manufacturing PMI compiled by S&P Global, which gauges the health of eurozone factories, increased in March for the third straight month to 48.6 from 47.6 in February. Despite the rise, the index remains below the 50.0-point threshold separating expansion from contraction.

"Things are looking up. The PMI has increased for the third month in a row and the output index even surpassed the threshold for growth," Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said in a release. "However, given the geopolitical developments, there is also increasing speculation that the defense sector will expand significantly over the next few years, with direct and indirect positive effects on the industry."

And in corporate news, the European Commission said Friday that it has fined 15 major car manufacturers and the European Automobiles Manufacturers' Association approximately 458 million euros ($495 million) for engaging in a "long-lasting cartel" regarding vehicle recycling. Mercedes-Benz was not fined because it revealed the cartel to the Commission.

Tesla registered 3,157 car sales in France in March, down nearly 37% year over year, according to data released by French industry association Plateforme Automobile. The electric vehicle maker's Q1 sales in France fell 41% from a year earlier to 6,693 units, the data showed.

Tesla's sales were also down in the Netherland, falling almost 50% in Q1 compared with a year earlier, Reuters reported Tuesday citing data from an unknown source. A total of 3,443 new Teslas were registered in the Netherlands during the quarter, down from 6,842 in the same period of 2024. Meanwhile in Spain, Tesla's sales of new units increased 34% year-over-year to 1,983 vehicles in March, Reuters reported Tuesday, citing data from Spanish industry group ANFAC.

Danish pharmaceutical company Ascendis Pharma said late Monday that it has filed a new drug application with the US Food & Drug Administration for the company's TransCon CNP drug candidate to treat children with achondroplasia.

Swiss biopharmaceutical company Pharvaris said Tuesday the European Commission has granted orphan drug designation to deucrictibant, the company's investigational drug to treat bradykinin-mediated angioedema.

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