12:09 PM EDT, 08/14/2025 (MT Newswires) -- The European stock markets closed higher in Thursday trading as the Stoxx Europe 600 advanced 0.49%, Germany's DAX gained 0.75%, the FTSE 100 was up 0.13%, France's CAC rose 0.84%, and the Swiss Market Index increased 0.19%.

Seasonally adjusted GDP increased 0.1% in Q2 in the euro area and 0.2% in the EU, compared with the previous quarter, according to a flash estimate from Eurostat, the statistical office of the EU. In Q1, GDP increased 0.6% in the euro area and 0.5% in the EU. Compared with a year earlier, seasonally adjusted GDP increased 1.4% in the euro area and 1.5% in the EU.

Romania and Poland registered the highest quarterly GDP growth at 1.2% and 0.8% respectively. Meanwhile, Ireland's GDP contracted 1.0% from Q1, while Germany's and Italy's GDP shrank 0.1% each.

Eurostat also reported Thursday that employment figures increased 0.1% in the euro area and the EU in Q2, compared with the previous quarter. Compared with the same quarter of the previous year, employment increased 0.7% in the euro area and the EU.

In the UK, gross domestic product grew 0.3% in Q2 compared with the previous quarter, according to the Office for National Statistics. Compared with a year earlier, Q2 GDP grew 1.2%.

And in corporate news, UBS is on track to miss an internal target of reducing its workforce to 85,000 by the end of 2026, when it expects to complete the integration of Credit Suisse, the Financial Times reported Thursday.

The bank had about 105,000 employees at the end of June after cutting an average of 1,300 jobs per quarter since the start of 2024, the report said. UBS had more than 119,000 employees at the end of June 2023 following the acquisition of Credit Suisse, which added about 45,000 staff.

Shares of UBS gained 0.69% in Zurich.

TotalEnergies and its joint venture partner Shell's environmental authorization to explore for oil in a block off South Africa was rescinded by a local court, media outlets reported Thursday, citing court documents.

The court said, however, that TotalEnergies should be given an opportunity to rectify the shortcomings identified, which included an inadequate assessment of the potential socio-economic consequences of oil spills, Reuters reported.

In a statement to MT Newswires, TotalEnergies E&P South Africa said it had ceased operations at the block in July 2024.

Shares of TotalEnergies were up 0.11% in Paris, while Shell's stock closed 1.6% lower in London trading.

Irish airline Ryanair is seeing strong demand in Europe and the airline is "reasonably optimistic" about hitting its targets for the summer, Reuters reported Thursday, citing an interview with CEO Michael O'Leary.

"We're seeing strong bookings through the peak summer months ... The fares are holding up," O'Leary told Reuters.

Shares of Ryanair edged 0.15% lower in Dublin.