12:15 PM EDT, 08/13/2025 (MT Newswires) -- The European stock markets closed higher in Wednesday trading as The Stoxx Europe 600 gained 0.52%, Germany's DAX increased 0.76%, the FTSE 100 was up 0.14%, France's CAC rose 0.70%, and the Swiss Market Index advanced 0.45%.

In Germany, the annual inflation rate for July was 2%, unchanged from the previous month, while the monthly inflation rate was up 0.3% from June, according to the Federal Statistical Office.

"The inflation rate has stabilized since the beginning of the year and remained unchanged for two consecutive months," Ruth Brand, president of the Federal Statistical Office, said in a statement. "The decline in energy prices continues and dampens overall inflation. In contrast, price increases in services, in particular, remain above average and raise the inflation rate."

And in corporate news, shares of Beazley tumbled more than 12% in London trading after it reported a 31% drop in H1 pre-tax profit to $502.5 million from $728.9 million a year earlier.

The British insurance firm said in a statement that the industry is facing climate-related disasters that are increasing in frequency and severity, alongside a wave of ransomware attacks that have impacted retailers in the UK and Europe in H1.

"This has been further compounded by the continued rise of social inflation in North America, which is driving greater complexity and cost across multiple lines in the specialty insurance sector," Beazley said in a statement.

British oil and gas company Shell lost a legal battle against Venture Global related to liquefied natural gas sales from the company's Calcasieu project in Louisiana, Venture Global said Wednesday.

"We have consistently honored these agreements without exception," Venture Global said in a statement.

A Shell spokesperson told MT Newswires in an e-mailed statement that the company was "disappointed with the outcome, but [respects] the tribunal's decision."

Shares of Shell edged 0.24% lower on the FTSE 100.

Deutsche Bank is looking to expand its operations in the emerging markets and is building teams by hiring former sales executives from Goldman Sachs and Bank of America, Bloomberg reported Wednesday, quoting people familiar with the development.

Joseph Puerner, who previously worked for Goldman Sachs focused on sales in the emerging markets, and Chris Pavacic, who recently worked for Bank of America and was in charge of developing-nation fixed-income sales, are expected to be joining Deutsche Bank shortly, the report said.

Deutsche Bank did not immediately reply to MT Newswires' request for comment.

Shares of Deutsche Bank were off 0.26% in Frankfurt