12:22 PM EST, 01/07/2025 (MT Newswires) -- The European stock markets closed mostly higher in Tuesday trading as The Stoxx Europe gained 0.34%, Germany's DAX rose 0.66%, France's CAC increased 0.59%, the Swiss Market Index climbed 1.19%, while the FTSE in London edged 0.05% lower.

Euro area annual inflation rose to an estimated 2.4% in December from 2.2% in November, according to a flash estimate from Eurostat, the statistical office of the European Union. The highest rates were in Croatia and Belgium, which registered inflation of 4.5% and 4.4% respectively. Meanwhile, the lowest rates were in Italy and Ireland, which had inflation of 1.4% and 1% respectively.

Eurostat also reported that the euro area seasonally adjusted unemployment rate was 6.3% in November, unchanged from October and down from 6.5% a year earlier. In the EU, the rate was 5.9% in November, which was also unchanged from the previous month, and down 6.1% from November 2023.

In France, the annual inflation rate is expected to rise 1.3% in December, which is unchanged from November, according to the provisional estimates from the Institute for Statistics and Economic Studies. INSEE said a slight rebound in energy prices was offset by a decline in prices of manufactured goods.

In Switzerland, the consumer price index declined 0.1% in December compared with the previous month, and was up 0.6% compared with a year earlier, according to the Swiss Federal Statistical Office.

And in corporate news, British pharmaceutical company GSK said Tuesday that its investigational drug GSK5764227 for relapsed or refractory osteosarcoma has received Breakthrough Therapy Designation from the US Food and Drug Administration.

Stellantis said Tuesday that it has signed a non-binding memorandum of understanding with simulation software firm dSPACE to accelerate the cloud-based development of the automaker's vehicles. Shares of the European automaker closed 1.1% higher in Paris trading.

Tesla is asking an administrative court in Sweden to force a government agency to deliver license plates that are now being blocked by postal workers in solidarity with other worker's unions in that country, according to multiple media reports. Tesla did not immediately respond to a request from MT Newswires seeking comment on Tuesday.