12:10 PM EST, 02/12/2025 (MT Newswires) -- The European stock markets closed modestly higher in Wednesday trading as The Stoxx Europe 600 gained 0.09%, Germany's DAX rose 0.48%, the FTSE 100 in London was up 0.34%, France's CAC 40 increased 0.17%, and the Swiss Market Index closed 0.16% higher.

Global supply chains were operating at full capacity in January "with the notable exception of Europe, which remains in a protracted industrial recession," according to the latest GEP Global Supply Chain Volatility Index report released Wednesday.

The report said European manufacturers are "especially vulnerable, as the sector has been contracting for nearly two years with no turnaround in sight." It also said that factories in Germany, France, Italy, and the UK held back on material purchases in January, "implying that Europe's manufacturing recession is set to persist a while longer." The index for Europe declined to -0.61 during the month, from -0.49 in December.

And in corporate news, AstraZeneca's earnings are poised to see a double-digit growth in 2025 with "continued strong product sales momentum," Morgan Stanley said, initiating coverage on the Cambridge, UK-based drug manufacturer with an overweight rating and a price target of 145 pounds ($180).

French oil and gas company TotalEnergies said Wednesday it signed a 10-year agreement to supply 400,000 tons of liquefied natural gas to India's state-owned oil and gas company Gujarat State Petroleum starting next year.

Shares of Smurfit Westrock fell 7% in London after it reported Q4 earnings and net sales that were well short of analyst forecasts. The Irish packaging company reported Q4 earnings Wednesday of $0.28 per diluted share, below forecasts by four analysts polled by FactSet who expected $0.65. Net sales for the quarter ended Dec. 31 were $7.54 billion, compared with the $7.71 billion expected by analysts surveyed by FactSet.