12:22 PM EDT, 07/10/2024 (MT Newswires) -- The European stock markets closed higher in Wednesday trading as The Stoxx Europe 600 rose 0.9%, the Swiss Market Index gained about 1%, France's CAC increased nearly 0.9%, the FTSE in London closed about 0.7% higher, and Germany's DAX was up 0.9%.

In the UK, companies showed strong confidence regarding future business activity in June, according to the latest S&P Global Business Outlook survey, which found that 44% of surveyed UK private sector companies expect business activity to expand over the next 12 months.

In Italy, the seasonally adjusted industrial production index increased 0.5% in May compared with the previous month, according to the Italian National Institute of Statistics. Compared with May 2023, the calendar adjusted industrial production index decreased by 3.3%.

In corporate news, most patients stop using Danish pharmaceutical company Novo Nordisk's Wegovy or Ozempic after two years, Reuters reported, citing an analysis of US pharmacy claims provided to the news agency. The analysis showed only one in four patients prescribed the drugs for obesity is still using the medication two years later, and that the decline in use is steady thereafter, Reuters reported. Novo Nordisk did not immediately respond to MT Newswires' request for comment. Despite the news, shares of Novo Nordisk closed 1% higher in Copenhagen.

UK-based financial services giant HSBC is redesigning parts of its investment bank to make it similar to rivals such as Citigroup, Bloomberg News reported Wednesday, citing people familiar with the matter. Company executives will combine several of its industry coverage groups, which should allow bankers to work more efficiently, the report said. HSBC did not immediately respond to MT Newswires' request for comment.

European automaker Stellantis is recalling 332,000 Alfa Romeo, Jeep, and Fiat cars in the US due to flawed seat belt sensors, the US National Highway Traffic Safety Administration said Wednesday.

UK oil and gas company Shell's subsidiary Shell Overseas said Wednesday it signed an agreement to invest in Abu Dhabi National Oil's Ruwais liquefied natural gas project through a 10% interest.

Meanwhile, Shell's rival BP's BP Pulse unit has signed a deal with Simon Property Group to install and operate more than 900 electric vehicle chargers at 75 locations in the US, Reuters reported Wednesday, citing the companies.

English professional soccer club Manchester United reported a Q3 adjusted loss Wednesday of 24.47 pence per diluted share ($0.31), compared with a loss of 7.41 pence a year earlier.