12:09 PM EST, 12/18/2024 (MT Newswires) -- European stock markets closed mostly higher in Wednesday trading as the Stoxx Europe gained 0.15%, Germany's DAX was flat, the FTSE in London edged 0.05% higher, France's CAC rose 0.26%, while the Swiss Market Index declined 0.87%.

The annual inflation rate in the euro area rose to 2.2% in November from 2.0% in October, but was down from 2.4% a year earlier, according to Eurostat, the statistical office of the European Union. The EU's annual inflation increased to 2.5% from 2.3% in October but declined from 3.1% in November 2023.

The lowest annual rates were in Ireland (0.5%) and Lithuania and Luxembourg (1.1% each), while the highest annual rates were in Romania (5.4%), Belgium (4.8%) and Croatia (4.0%). Compared with October, the annual inflation rose in 20 member countries, fell in four, and remained unchanged in three.

In the UK, the consumer prices index rose 2.6% in the 12 months to November, up from 2.3% in the 12 months to October. On a monthly basis, CPI increased 0.1%, compared with a 0.2% decline a year earlier.

And in corporate news, shares of French automaker Renault closed 5.2% higher in Paris following a report from Bloomberg News that Honda Motor is in merger talks with Nissan Motor, whose largest shareholder is Renault. Renault did not immediately respond to MT Newswires' request for comment.

British pharmaceutical company AstraZeneca's sales in China have been hurt following the arrest of its country president, Leon Wang, and several other senior executives, the Financial Times reported Wednesday. AstraZeneca did not immediately respond to MT Newswires' request for comment.

A US International Trade Commission judge said in an initial ruling Tuesday that Swedish telecommunications company Ericsson's patents in 5G wireless technology were infringed by Lenovo's Motorola Mobility smartphones. A final ruling on the case is expected in April, a Reuters report said. The companies did not immediately respond to MT Newswires' requests for comment.

Danish pharmaceutical company Novo Nordisk's controlling shareholder Novo Holdings has completed a $16.5 billion all-cash acquisition of contract development and manufacturing firm Catalent, the companies said Wednesday.