12:17 PM EDT, 03/12/2025 (MT Newswires) -- European stock markets were higher in Wednesday trading as the Stoxx Europe 600 rose 0.72%, Germany's DAX increased 1.51%, the FTSE 100 in London gained 0.34%, France's CAC 40 was up 0.49%, and the Swiss Market Index advanced 1.40%.

The European Commission said Wednesday it will impose tariffs on up to 26 billion euros ($28.36 billion) worth of US goods in response to "unjustified" US tariffs on European Union steel and aluminum imports. The commission said that it will end its existing suspension of tariffs on US products April 1 and that its tariffs will be fully in place by April 13.

According to the February S&P Global UK Business Outlook, private sector employment expectations were negative for the first time since June 2020, and only the second time in more than 15 years. Business activity expectations also fell to its lowest confidence in future output since Oct. 2022.

And in corporate news, Rio Tinto said Wednesday that its Rio Tinto Finance unit priced an offering of $9 billion of fixed- and floating-rate notes in eight tranches. The company plans to use the net proceeds for general corporate purposes, including to repay debt under a bridge loan facility to finance its acquisition of Arcadium Lithium.

German automaker Volkswagen is in talks with Chinese automotive tech company ECARX about integrating its technologies into cars sold in developed markets such as Europe and the US, Reuters reported Wednesday, citing the company's CEO Shen Ziyu. The two companies last week announced a collaboration to manufacture smart cars in Brazil and India.

Steel and mining company ArcelorMittal's joint venture in India has filed a lawsuit against the Indian government, challenging the retroactive restrictions on metallurgical coke imports, Reuters reported Wednesday, citing court documents. ArcelorMittal did not immediately respond to MT Newswires' request for comment.

Irish biopharmaceutical company Amarin said Wednesday it plans to adjust the ratio of its shares from one ADS per ordinary share to one ADS for every 20 ordinary shares, effective on or around April 11. The company said the reverse ratio change is intended to raise its share price to meet Nasdaq's $1 minimum bid requirement and preserve its listing status.