12:06 PM EDT, 06/03/2024 (MT Newswires) -- European stock markets closed mixed in Monday trading as the Stoxx Europe 600 rose 0.32%, the Swiss Market Index was off 0.05%, France's CAC gained 0.06%, the FTSE in London was down 0.1%, and Germany's DAX closed 0.60% higher.

The HCOB Eurozone Manufacturing PMI, a monthly measure of the overall health of eurozone factories and compiled by S&P Global, rose to 47.3 in May from 45.7 in April. Although this was below the 50.0-point no-change threshold, it was the highest reading in the headline index since March 2023, and it was the third straight month that the decline in factory output has slowed.

The highest readings were in Greece, Spain, and Netherlands, each of which registered above the 50-point threshold, while German, Italy, Austria, and France all registered below the 50-point threshold.

"This could be the turning point for the manufacturing sector," Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said in a statement. "The industry is on the verge of halting the production decline that has persisted since April 2023."

In the UK, the manufacturing sector returned to growth in May as the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index rose to 51.2 from 49.1 in April. It was the index's highest reading since July 2022.

And in corporate news, shares of GSK closed nearly 10% lower on the FTSE in London after a Delaware court ruled Friday that the UK-based pharmaceutical giant should face trials over allegations that its heartburn treatment Zantac causes cancer.

"The scientific consensus is that there is no consistent or reliable evidence that ranitidine (Zantac) increases the risk of any cancer," GSK said in a statement responding to the ruling. The company said it will immediately seek an appeal.

Online fashion retailer Shein is planning to file for an initial public offering in London as early as this week, according to media reports Monday. The company is expected to seek approval from the UK's Financial Conduct Authority to launch the IPO, which could put a 50-billion-pound ($63.89 billion) value on Shein.

Danish biotech firm Genmab said Monday that its antibody-drug conjugate tisotumab vedotin showed "encouraging" antitumor activity as a monotherapy in a phase 2 trial in patients with head and neck squamous cell carcinoma. Shares rose by nearly 1% in Copenhagen.