12:20 PM EDT, 09/17/2024 (MT Newswires) -- The European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 increased 0.42%, the Swiss Market Index was up 0.31%, France's CAC gained 0.51%, the FTSE in London rose 0.38%, and Germany's DAX advanced 0.52%.

In the UK, a report from Aston University said that the UK's departure in 2020 from the European Union has had "stifling effects" on trade relations with the EU. Monthly data between 2021 and 2023 show a 27% drop in exports and a 32% decline in imports to and from the EU.

In Germany, the ZEW Indicator of Economic Sentiment dropped sharply in its September reading, falling 15.6 points from August to 3.6 points. German economic research institute ZEW said sentiment concerning the economic situation in Germany has also continued to decline as the corresponding indicator dropped 7.2 points to minus 84.5 points in September.

"The hope for a swift improvement in the economic situation is visibly fading," ZEW President Achim Wambach said in a statement.

And in corporate news, Irish airline Ryanair said it expects a six-week delay in aircraft deliveries due to ongoing strike at Boeing, Bloomberg reported Tuesday. The strike is likely to last for three to four more weeks, with deliveries delayed another two weeks after the walkout. Ryanair was up 6% in Dublin.

European automaker Stellantis is facing labor charges in the US filed by the United Auto Workers claiming the automaker is "illegally" refusing to provide information about product commitments it made in accordance with their collective bargaining agreement for 2023. Stellantis was up fractionally in Milan.