12:01 PM EST, 01/30/2025 (MT Newswires) -- The European stock markets closed higher in Thursday trading as The Stoxx Europe 600 rose 0.90%, Germany's DAX gained 0.41%, the FTSE 100 in London increased 1.04%, France's CAC 40 was up 0.88%, and the Swiss Market Index closed 0.59% higher.

The European Central Bank lowered its three key interest rates by 25 basis points, which it said was based on its updated assessment of the inflation outlook.

"The disinflation process is well on track," the ECB said in statement. "Inflation has continued to develop broadly in line with the staff projections."

Seasonally adjusted GDP was flat in the euro area and increased 0.1% in the EU in Q4 compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the EU. Preliminary annual GDP growth for 2024 grew 0.7% in the euro area and 0.8% in the EU.

Eurostat also reported that the euro area seasonally adjusted unemployment rate was 6.3% in December, up from 6.2% in November, and down from 6.5% a year earlier. The unemployment rate in the EU was 5.9% in December, up from 5.8% in November and down from 6.0% a year earlier.

And in corporate news, Deutsche Bank reported Q4 earnings Thursday of 0.15 euro ($0.16) per diluted share, down from 0.67 euro a year earlier. Four analysts polled by FactSet expected 0.48 euro. Revenue for the quarter ended Dec. 31 was 7.22 billion euros, up from 6.66 billion euros a year earlier. Analysts polled by FactSet expected 7.37 billion euros. Shares of Deutsche Bank dropped 3.1% in Frankfurt.

French pharmaceutical company Sanofi reported Q4 business earnings Thursday of 1.31 euros ($1.36) per share, down from 1.54 euros a year earlier. Revenue for the quarter ended Dec. 31 was 10.56 billion euros, up from 9.69 billion euros a year earlier.

British mining company Rio Tinto said Thursday that it signed a partnership agreement with Hydro to identify and evaluate carbon capture technologies for the aluminum electrolysis process.