12:05 PM EST, 03/05/2025 (MT Newswires) -- The European stock markets closed mostly higher in Wednesday trading as The Stoxx Europe 600 rose 1.01%, Germany's DAX gained 3.55%, the FTSE 100 in London was off 0.04%, France's CAC 40 advanced 1.56%, and the Swiss Market Index gained 0.82%.

The eurozone economy remained in expansion territory in February but hovered near contraction territory as the seasonally adjusted HCOB Eurozone Composite PMI Output Index was 50.2 in February, the same as January. The index, however, remains below its long-term average of 52.4.

In the UK, the headline seasonally adjusted S&P Global UK Services PMI Business Activity Index rose to 51.0 in February, up marginally from 50.8 in January and remained above the 50.0-point threshold separating expansion from contraction for the 16th straight month. However, the reading remained well below its long-term average of 54.3.

In Switzerland, the consumer price index increased by 0.6% in February compared with January rising to 107.4 points, while inflation was 0.3% compared with the same month a year earlier, according to the Swiss Federal Statistical Office.

And in corporate news, Deutsche Bank was fined 23.1 million euros ($24.3 million) over breaches of the German Securities Trading Act, the German Act on Breaches of Administrative Regulations, and the German Payment Accounts Act, Germany's financial regulator BaFin said Tuesday. Deutsche Bank did not immediately respond to requests for comments from MT Newswires. Shares of Deutsche Bank closed 12% higher in Frankfurt.

Novo Nordisk said Wednesday that it launched a direct-to-patient online pharmacy through which it will offer its weight loss injection at more than half the list price. The drug will cost $499 per month, compared with its list price of $1,349.02. Shares of the Danish pharmaceutical company closed 2.5% higher in Copenhagen.

Spanish financial services company Banco Santander's US investment banking operations more than doubled profit in 2024 after large investments in the business, Bloomberg reported Wednesday, citing a company representative. Santander did not immediately reply to MT Newswires' request for comments.

Mining stocks rallied in Europe as Antofagasta and Fresnillo climbed 6.5% and 6.2% respectively in London, followed by Anglo American and Glencore, which gained 4.7% and 2.6% respectively, while ArcelorMittal closed 10% higher in Paris.