12:02 PM EST, 12/24/2024 (MT Newswires) -- European stock markets closed higher in Tuesday's abbreviated trading session before the Christmas holiday as the Stoxx Europe gained 0.18%, the FTSE in London rose 0.42%, France's CAC closed 0.14% higher, while Germany's DAX and the Swiss Market Index were closed for the Christmas holiday.

The UK's Department for Transport said Tuesday that it has launched a consultation with the British automotive and charging industries. The government said it is seeking views on how to restore the 2030 phase out date for new gasoline and diesel cars as part of the government's plan to transition to zero emissions vehicles.

In corporate news, shares of Vistry Group tumbled 16% on the FTSE in London after the homebuilder lowered its 2024 profit estimate for the third time in three months on Tuesday, according to media reports.

Spanish electric utilities company Iberdrola said Monday that it has completed its merger with its US subsidiary Avangrid after acquiring 18.4% of the shares it did not already control. Avangrid will be delisted from the New York Stock Exchange, the company said.

Irish biotech company Trinity Biotech said Tuesday it has secured $5.5 million in additional liquidity through amended agreements with Perceptive Advisors, including cash and payment-in-kind interest.