12:15 PM EDT, 07/17/2025 (MT Newswires) -- European stock markets closed higher in Thursday trading as the Stoxx Europe 600 gained 0.96%, Germany's DAX advanced 1.51%, the FTSE 100 was up 0.52%, France's CAC climbed 1.29%, and the Swiss Market Index rose 0.43%.

The annual inflation rate in the euro area in June increased to 2.0% from 1.9% in May, according to Eurostat, and matched analyst forecasts, according to Bloomberg. The inflation rate was 2.5% the same time a year earlier. In the EU, annual inflation rose to 2.3% in June, from 2.2% in May, and compared with 2.6% a year earlier.

The lowest inflation rates were in Cyprus (0.5%), France (0.9%) and Ireland (1.6%), while the highest rates were in Romania (5.8%), Estonia (5.2%), and Hungary and Slovakia (4.6% each). Compared with the previous month, annual inflation fell in five member states and rose in 22.

Eurostat said the main contributors to inflation were services, food, alcohol and tobacco, non-energy industrial goods, and energy.

In the UK, the unemployment rate rose to 4.7% in the three months to May, compared with 4.6% in the three months to April. Analysts had been expecting 4.6%, according to Bloomberg.

In corporate news, shares of EasyJet dropped 5% on the FTSE after the UK-based airline said its fiscal year 2025 earnings will be impacted by higher fuel costs and an ongoing strike by French air traffic controllers.

"We are extremely unhappy with the strike action by the French ATC in early July, which as well as presenting unacceptable challenges for customers and crew also created unexpected and significant costs for all airlines," Chief Executive Kenton Jarvis said in a statement.

Sequans Communications said in a regulatory filing Thursday that its bitcoin strategy exposes the French semiconductor company to "various risks," and referred to the cryptocurrency as a "highly volatile asset."

The company noted that over the past 12 months the price of bitcoin has vacillated between $50,000 and $120,000, and pointed out that it doesn't provide any periodic returns, such as interest or dividends.

"We can only generate cash from our bitcoin holdings if we sell our bitcoin or implement strategies to create income streams or otherwise generate cash by using our bitcoin holdings," the company said in the filing. "Even if we pursue any such strategies, we may be unable to create income streams or otherwise generate cash from our bitcoin holdings, and any such strategies may subject us to additional risks."

Sequans Communications' ADRs were down 22% in midday US trading. The company is not listed on any European exchanges.

The European Union has issued a legal warning to the government of Spain for hindering Banco Bilbao Vizcaya Argentaria's planned acquisition of rival Banco Sabadell, Bloomberg News reported Thursday, citing a letter it has seen.

Bilbao Vizcaya Argentaria was down 0.8% in Madrid trading while Banco Sabadell gained 0.4%.

GSK said Thursday that the US Food and Drug Administration has approved a prefilled syringe version of Shingrix, a vaccine for the prevention of shingles. The syringe removes the need to assemble vials before injection, simplifying vaccine administration, the company said.

Shares of the British pharmaceutical company closed 0.6% lower in London.

Swiss pharmaceutical company Novartis reported Q2 core earnings Thursday of $2.42 per share, up from $1.97 a year earlier. Analysts surveyed by FactSet expected $2.35.

Net sales for the quarter ended June 30 were $14.05 billion, up from $12.51 billion a year earlier. Analysts polled by FactSet expected $14.07 billion.

The company also said it is initiating a $10 billion share repurchase program, which is expected to expire at the end of 2027. And it named Mukul Mehta as its chief financial officer, effective March 16, 2026.

Novartis shares closed more than 2% lower on the Swiss Exchange in Zurich.