11:58 AM EDT, 10/23/2024 (MT Newswires) -- European stock markets closed lower in Wednesday trading as the Stoxx Europe 600 fell 0.31%, Germany's DAX was off 0.20%, France's CAC fell 0.50%, the FTSE in London was down 0.58%, and the Swiss Market Index closed 0.13% lower.

The European Commission's Directorate-General Economic and Financial Affairs' flash estimate of the consumer confidence indicator increased 0.5 percentage points in the EU and 0.4 percentage points in the euro area. The Commission said consumer confidence reached its long-term average for the first time since February 2022.

And in corporate news, Deutsche Bank reported rising Q3 earnings and revenue that topped analyst expectations. The bank was also ordered by a German court make increased payments to a group of former Postbank shareholders in connection with its acquisition of the company, according to a statement from the Cologne Higher Regional Court on Wednesday. Shares of Deutsche Bank closed 1.3% lower in Frankfurt.

HSBC Chief Executive Georges Elhedery has warned senior staff to prepare for job cuts, Reuters reported Wednesday, citing an internal memo. HSBC did not immediately reply to MT Newswires' request for comment. Shares closed marginally lower on the FTSE.

Stellantis said Wednesday that it will launch a demonstration fleet of all-new Dodge Charger Daytona vehicles by 2026 that will use Factorial's solid-state batteries. Shares of the European automaker closed 2.9% higher in Paris.

And British oil and gas company Shell's North America unit said Wednesday it has signed an agreement to buy a 100% equity stake in Risec Holdings, which owns a 609-megawatt two-unit combined-cycle gas turbine power plant in Rhode Island. Financial terms weren't disclosed. Shell shares fell 1% in London.