12:16 PM EDT, 08/14/2024 (MT Newswires) -- The European stock markets closed higher in Wednesday trading as The Stoxx Europe 600 gained 0.43%, the Swiss Market Index climbed 1.20%, France's CAC rose 0.79%, the FTSE in London was up 0.56%, and Germany's DAX closed 0.38% higher.

Seasonally adjusted GDP increased 0.3% in both the euro area and the European Union in Q2 compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the EU. Compared with the year-ago quarter, seasonally adjusted GDP increased 0.6% in the euro area and 0.8% in the EU.

Eurostat also reported that seasonally adjusted industrial production decreased 0.1% in the euro area and remained unchanged in the EU in June compared with May. Compared with June 2023, industrial production decreased 3.9% in the euro area and 3.2% in the EU.

In the UK, the consumer prices index increased 2.2% in the 12 months to July, up from 2.0% in June, according to the Office for National Statistics.

In France, the consumer price index rose 0.2% in July from June, according to the Institute for Statistics and Economic Studies. Compared with the year-ago month, consumer prices were up 2.3%, compared with an annual rise of 2.2% in June.

And in corporate news, shares of Ireland-based gambling company Flutter Entertainment surged nearly 11% in Wednesday trading in London after it reported Q2 adjusted earnings and revenue that beat analyst forecasts by a wide margin.

Shares of UBS were up more than 5% on the Swiss Exchange after its chief financial officer said during its earnings call Wednesday that the bank has agreed to sell Credit Suisse's US Mortgage Servicing business for an undisclosed amount.

German energy company RWE's shares dropped nearly 6% in Frankfurt after it reported H1 adjusted earnings before interest, taxes, depreciation and amortization of 2.90 billion euros ($3.2 billion), down from 4.14 billion euros during the year-ago period.

And Citigroup is raising the limit on bonuses for some of its top UK bankers to as much as six times their base salary, Bloomberg News reported Wednesday, citing an internal memo. The previous limit restricted such employees' bonuses to twice their fixed pay, according to the report. Citigroup didn't immediately respond to MT Newswires' request for comment.