12:25 PM EDT, 05/31/2024 (MT Newswires) -- European stock markets closed mostly higher in Friday trading as the Stoxx Europe 600 gained 0.28%, the Swiss Market Index climbed 1.19%, France's CAC was up 0.03%, and the FTSE in London rose 0.57%, while Germany's DAX was little changed.

The flash estimate for euro area annual inflation rose to 2.6% in May from 2.4% in April and was down from 6.1% a year earlier, according to Eurostat, the statistical office of the European Union. The reading topped the 2.5% consensus forecast from Investing.com.

In Germany, calendar and seasonally adjusted retail sales declined 1.2% in April from March, according to the German Federal Statistical Office. Adjusted retail sales declined 0.6% from a year earlier, while nominal sales increased 1.0%.

In Italy, the consumer price index increased 0.2% in May from April and 0.8% from a year earlier, according to preliminary estimates from the Italian Institute of Statistics.

In Switzerland, adjusted turnover in the retail sector rose 2.3% in nominal terms in April from a year earlier, according to provisional findings from the Swiss Federal Statistical Office.

In corporate news, Deutsche Bank expects "slightly lower" revenue in fixed income in Q2 from a year earlier, Chief Financial Officer James von Moltke said Thursday at a conference. Shares closed 1.7% lower on the DAX.

Swiss pharmaceutical company Novartis said the late-stage trial for Scemblix, its treatment for chronic myeloid leukemia, met both of its primary endpoints. It also said that phase 3 data of its investigational drug remibrutinib to treat chronic spontaneous urticaria showed significant symptom improvement. Shares rose 1.9% in Zurich.

French internet advertising firm Criteo entered into a partnership with Dollar General's retail media unit Dollar General Media Network. Under the deal, Criteo said Dollar General can integrate first-party data, in-store sales data, and comprehensive shopper signals into Criteo's self-service demand-side platform Commerce Max.