12:10 PM EDT, 08/22/2024 (MT Newswires) -- The European stock markets closed mostly higher in Thursday trading as The Stoxx Europe 600 was up 0.35%, the FTSE in London rose 0.06%, the Swiss Market Index increased 0.45%, Germany's DAX gained 0.25%, while France's CAC nudged 0.01% lower.

The seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index, based on approximately 85% of survey responses compiled by S&P Global, rose to 51.2 in August from 50.2 in July. The latest increase in activity was the fastest since May.

In Great Britain, the headline seasonally adjusted S&P Global Flash UK PMI rose to 53.4 in August from 52.8 in July. "August is witnessing a welcome combination of stronger economic growth, improved job creation and lower inflation," Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement.

And in corporate news, German automaker BMW sold more electric vehicles than Tesla in the European Union for the first time last month, according to data compiled by consultancy Jato Dynamics. Sales of fully electric BMWs increased 35% year over year in July to 14,869, while Tesla recorded a 16% year-over-year decline to 14,561, according to Jato Dynamics.

Deutsche Bank said late Wednesday that it has agreed to settle with more than 80 plaintiffs, addressing nearly 60% of the claims related to its Postbank acquisition. The settlements, at 31 euros ($34.52) per share, include an agreement with the largest individual plaintiff who holds approximately one-third of the total claims. Shares of Deutsche Bank were up 4% in Thursday trading in Frankfurt.

The UK Competition and Markets Authority said Thursday that Spanish financial services company Banco Santander breached regulations requiring that accurate and up-to-date information be made continuously available through Open Banking Application Programming Interfaces.

And McDonald's said Wednesday that it will open more than 200 restaurants in the UK and Ireland over the next four years.