12:19 PM EDT, 06/13/2024 (MT Newswires) -- The European stock markets closed sharply lower in Thursday trading as The Stoxx Europe 600 shed 1.33%, the Swiss Market Index was down 0.59%, France's CAC tumbled 1.99%, the FTSE in London fell 0.63%, and Germany's DAX dropped 1.97%.

Seasonally adjusted industrial production decreased 0.1% in the euro area and increased 0.5% in the EU in April compared with March, according to Eurostat, the statistical office of the EU. Compared with April 2023, industrial production decreased by 3.0% in the euro area and 2.0% in the EU.

The GEP Global Supply Chain Volatility Index produced by S&P Global and GEP rose to -0.13 in Europe from -0.55, its highest reading in 14 months. The rise indicates a sharp drop in European supply chain slack and signals the continued easing of Europe's manufacturing downturn.

In Italy, the number of employed people in Q1 increased by 0.3% compared with Q4 of 2023, according to the Italian National Institute of Statistics.

In Switzerland, the producer and import price index fell 0.3% in May compared with the previous month to 107.2 points, according to the Swiss Federal Statistical Office. Compared with May 2023, prices for all domestic and imported products declined 1.8%.

And in corporate news, shares of BT rose more than 4% on the FTSE in Thursday trading after regulatory filings showed Mexican billionaire Carlos Slim acquired a 3.16% stake in the UK telecommunications giant, according to media reports.

Shares of British technology company Halma climbed more than 13% in London after it reported a 10% increase in annual profit and revenue and raised its dividend for the 45th straight year.

Swiss bank UBS has entered final talks with Beijing State-Owned Assets Management over the sale of Credit Suisse's China venture after talks with Citadel Securities stalled, Bloomberg reported Thursday, citing people familiar with the matter.

Stellantis said Thursday at its investor day that it plans to increase Jeep sales worldwide to approximately 1.5 million units in 2027 from nearly 1 million units. Shares of the Amsterdam-based automaker closed 2.7% lower in Paris.