12:03 PM EDT, 08/20/2025 (MT Newswires) -- The European stock markets closed mixed in Wednesday trading as The Stoxx Europe 600 gained 0.25%, Germany's DAX declined 0.60%, the FTSE 100 advanced 1.08%, France's CAC was off 0.08%, and the Swiss Market Index rose 0.52%.

The euro area annual inflation rate was 2% in July, which was unchanged from June and down from 2.6% a year earlier, according to Eurostat, the statistical office of the European Union. EU annual inflation was 2.4% in July, up from 2.3% the previous month, and down from 2.8% in July 2024.

The lowest annual rates were in Cyprus (0.1%), France (0.9%) and Ireland (1.6%), while the highest rates were in Romania (6.6%), Estonia (5.6%) and Slovakia (4.6%). Compared with June, annual inflation fell in eight member states, remained unchanged in six, and rose in 13.

In the UK, the annual consumer prices index rose 3.8% in July, up from 3.6% in June. On a monthly basis, CPI rose 0.1% in July, compared with a 0.2% decline a year earlier. Including owner occupiers' housing costs inflation rose 4.2% in July, up from 4.1% in June.

In Germany, producer prices for industrial products declined 1.5% in July, compared with a year earlier, according to the Federal Statistical Office. Compared with June, producer prices were down 0.1% in July. The FSO attributed the annual decline in producer prices to lower energy prices.

And in corporate news, Novo Nordisk has introduced a global hiring freeze across all markets and departments, except for business-critical roles, Bloomberg reported Wednesday, citing a company spokesperson. The report said that new Chief Executive Maziar Mike Doustdar signaled potential job cuts last month as part of a broader revamp, adding that the company needed to exercise greater discipline and prudence in its spending.

A company spokesperson confirmed the hiring freeze to MT Newswires in a statement on Wednesday.

Shares of the Danish pharmaceutical company were declined 0.7% in Copenhagen.

Convatec shares rose 5.6% on the FTSE in London after it said Wednesday that it is launching a buyback program of up to $300 million. The British medical device maker said the program takes effect immediately and will close Dec. 31, unless it decides to extend it.

Irish biotech company Trinity Biotech said Wednesday that it has received regulatory approval to begin offshore and outsourced manufacturing of its TrinScreen HIV rapid test. Following the approval, Trinity Biotech said it can transition to a scalable outsourced model that is expected to expand gross margins, free up working capital, and reduce fixed costs.

Trinity Biotech shares don't trade in Europe; however, they were up 24% in recent trading on Nasdaq in the US.