12:13 PM EDT, 05/27/2025 (MT Newswires) -- The European stock markets closed mostly higher in Tuesday trading as the Stoxx Europe 600 rose 0.45%, Germany's DAX advanced 0.96%, the FTSE 100 gained 0.69%, the Swiss Market Index was up 0.06%, while France's CAC 40 was off 0.02%.

US President Donald Trump said Sunday he has agreed to extend a plan to impose a 50% tariff rate on the European Union through July 9. European Commission President Ursula von der Leyen requested to extend the June 1 deadline for the proposed tariffs against the bloc, Trump said in a social media post.

In Germany, the consumer climate indicator is forecasting a 0.9 points increase to -19.9 points for June 2025 compared to the previous month, according to the GfK German Consumer Climate Indicator.

"The unpredictable customs and trade policy of the US government, turbulence on the stock markets and fears of a third consecutive year of stagnation are reasons why the consumer climate remains weak," Rolf Burkl, consumer expert at the NIM, said in a statement.

In France, the annual inflation rate for May is estimated at 0.7%, down from 0.8% in April, according to the Institute for Statistics and Economic Studies. Compared with the previous month, consumer prices fell 0.1% after a 0.6% rise in April.

And in corporate news, the Swiss Federal Department of Finance said Friday it is contesting a ruling by the Federal Administrative Court that the reduction or cancellation of variable remuneration for former members of Credit Suisse's management during the company's takeover by UBS Group was illegal.

UBS told MT Newswires that it takes note of the Federal Department of Finance's decision to appeal the case.

HSBC has cut more than two dozen analyst jobs in recent days as part of a restructuring of its investment banking businesses, Bloomberg News reported. The company did not immediately reply to MT Newswires' request for comment.