12:15 PM EDT, 06/17/2024 (MT Newswires) -- European stock markets closed mixed in Monday trading as the Stoxx Europe 600 rose 0.12%, the Swiss Market Index fell 0.28%, France's CAC climbed 0.88%, the FTSE in London eased 0.05% and Germany's DAX increased 0.42%.

Q1 hourly labor costs rose 5.1% in the euro area and 5.5% in the EU from a year earlier, according to Eurostat, the statistical office of the EU. The highest increases were in Romania at 16.4%, Bulgaria at 15.8%, Croatia at 15.3%, Poland at 14.1% and Hungary at 13.7%.

In Italy, the consumer price index increased 0.2% in May from April and gained 0.8% from a year earlier, according to the Italian National Institute of Statistics.

In Switzerland, the Federal Government Expert Group on Business Cycles said it continues to expect Swiss economic growth to be well below average in 2024 at 1.2%, up from the March forecast of 1.1%. The group said growth is likely to normalize to 1.7% in 2025 as the global economy gradually recovers.

In corporate news, UBS is being sued by Russian-Uzbek billionaire Alisher Usmanov in Germany over alleged reports made by the bank about Usmanov's deals that resulted in a probe of him by German authorities, media reports said.

UBS also said Monday it set aside $900 million in an offer to redeem units of the failed Credit Suisse's Supply Chain Finance Funds at 90% of net asset value as of Feb. 25, 2021, minus payments made to fund investors through newly established feeder sub-funds.

Novo Nordisk Chief Executive Officer Lars Jorgensen agreed to testify before the US Senate Committee on Health, Education, Labor, and Pensions to discuss the prices of Ozempic and Wegovy, Sen. Bernie Sanders said Friday.

Deutsche Bank (DB) agreed to buy a portfolio of about 1.67 billion euros ($1.79 billion) in aircraft financing from NordLB, which is leaving the sector to focus on its core businesses. Shares of Deutsche Bank rose 1.5% in Frankfurt.

AstraZeneca said Sunday a phase 3 study of experimental drug Calquence, in combination with bendamustine and rituximab, demonstrated a statistically significant and clinically meaningful improvement in progression-free survival compared with standard-of-care in certain patients with mantle cell lymphoma, a rare type of blood cancer.