12:09 PM EDT, 05/08/2024 (MT Newswires) -- European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 rose 0.33%, the Swiss Market Index gained 0.78%, France's CAC increased 0.69%, the FTSE in London was up 0.49% and Germany's DAX gained 0.31%.

Seasonally adjusted services production increased 1% in the euro area and 1.1% in the EU In February from January, according to first estimates from Eurostat, the statistical office of the EU. Services production increased 4.9% in the euro area and 4.8% in the EU from a year earlier.

In Germany, price-adjusted production in the manufacturing sector declined 0.4% in March from February, according to preliminary information from the Federal Statistical Office.

In Italy, retail sales were flat in March from February, while year-over-year growth was 2%, according to the Italian National Institute of Statistics.

In corporate news, Siemens Energy said Chief Executive Officer Jochen Eickholt will step down from his role July 31 and leave the company Sept. 30. He will be succeeded by Vinod Philip, effective Aug. 1. The company also said its wind power division will be integrated into its management structure. Shares of the company rose 12% on the DAX.

Alliance Pharma said CEO Peter Butterfield is leaving the UK health-care company to pursue other business interests. Nick Sedgwick was named as successor, effective May 13.