12:25 PM EDT, 05/23/2024 (MT Newswires) -- The European stock markets closed little changed Thursday as the Stoxx Europe 600 gained 0.06%, the Swiss Market Index was up 0.07%, France's CAC rose 0.13%, the FTSE in London fell 0.37% and Germany's DAX added 0.06%.

The eurozone's economic recovery accelerated in May, according to the seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index compiled by S&P Global. The gauge rose to 52.3 from 51.7 in April, marking the third straight month that private sector euro area business activity increased.

In the UK, private sector activity expanded again in May, though at a slower rate than in April, as the headline seasonally adjusted S&P Global Flash UK PMI Composite Output Index declined to 52.8 from 54.1. The 50-point threshold indicating growth.

In Germany, exports to countries outside the EU rose 3.7% in April from March, adjusted for calendar and seasonal effects, according to the Federal Statistical Office.

In corporate news, Mondelez International (MDLZ) was fined 337.5 million euros ($366 million) by the European Commission for "hindering the cross-border trade of chocolate, biscuits, and coffee products between member states, in breach of EU competition rules."

UK-based tech firm Endava (DAVA) reported fiscal Q3 adjusted earnings of 0.22 pounds ($0.28) per diluted share, down from 0.59 pounds a year earlier. Analysts polled by Capital IQ expected 0.18 pounds.

London-based electricity and gas provider National Grid (NGG) plans to invest $75 billion over the next five years across in the US and UK. The shares fell 11% in London.

Spanish financial services company Banco Santander (SAN) is weighing interest for synthetic-risk-transfer transactions tied to over $6 billion in loans, Bloomberg reported, citing people familiar with the matter.