12:21 PM EST, 12/24/2025 (MT Newswires) -- European stock markets closed mixed Wednesday as the Stoxx Europe 600 eased less than 0.1%, the FTSE 100 declined 0.2%, and France's CAC was unchanged, while Germany's DAX and the Swiss Market Index were shut for a holiday.

In corporate news, Sanofi agreed to buy Dynavax Technologies for $2.2 billion in cash, or $15.50 a share, adding Dynavax's marketed adult hepatitis B vaccine Heplisav-B and its Phase 1-2 shingles candidate Z-1018.

Sanofi also said the US Food and Drug Administration issued a complete response letter for its new drug application for tolebrutinib for the treatment of adult patients with non-relapsing secondary progressive multiple sclerosis.

"Today's FDA decision is a significant and meaningful change in direction from the feedback the agency previously provided," Sanofi said. "We are very disappointed by the FDA's action."

Shares of the French pharmaceutical company fell 0.7% in Paris.

BP agreed to sell a 65% stake in Castrol to private-equity firm Stonepeak for $6 billion. Canada Pension Plan Investment Board will invest up to $1.05 billion to support the transaction, leading to an indirect stake in Castrol.

Meanwhile, BP's Castrol India business received an open offer from Stonepeak and the Canada Pension Plan Investment Board to acquire up to 25.7 million shares, representing a 26% stake.

The open offer was priced at 194.04 Indian rupees ($2.16) per Castrol India share.

BP shares fell 0.7% in London.

Barclays and NatWest Group moved into the second round of an auction for UK wealth manager Evelyn Partners, Sky News reported late Tuesday.

Royal Bank of Canada is also among the potential bidders, while several private equity firms have submitted offers for Evelyn, the report said.

Barclays shares gained 0.1% in London, Lloyds fell 0.3%, and NatWest dropped 0.5%.

Rio Tinto plans to replace the index it has used for settlement of iron ore shipments to China in January and February, Reuters reported, citing a client notice and a trader with knowledge of the matter.

Rio Tinto emailed Chinese clients telling them that Fastmarkets MB's iron ore indices will replace those of Platts for settling iron ore shipments during the first two months of next year, the report said.

Rio Tinto shares fell 0.3% on the FTSE 100.