01:25 PM EDT, 03/19/2024 (MT Newswires) -- European stock markets closed mostly higher in Tuesday trading as the Stoxx Europe 600 was up 0.26%, France's CAC rose 0.65%, the FTSE in London gained 0.2%, and Germany's DAX increased 0.31%, while the Swiss Market Index fell 0.39%.

Hourly labor costs rose 3.4% in Q4 in the euro area and 4.0% in the EU from a year earlier, according to Eurostat, the statistical office of the European Union.

In France, GDP in Q4 rose 0.1%, little changed for the second straight quarter, according to the Institute for Statistics and Economic Studies.

In Switzerland, the Federal Expert Group on Business Cycles expects Swiss GDP growth adjusted for sporting events to be significantly below average in 2024 at 1.1%. It also said that growth is projected to normalize at 1.7% in 2025 as the global economy gradually rebounds.

In corporate news, shares of Unilever (UL) rose 3% on the FTSE in London. The UK-based consumer goods giant plans to spin off its ice cream unit and cut 7,500 jobs to rein in costs. The separation of the ice cream business is expected to be completed by the end of next year.

Thyssenkrupp and Carlyle are in talks to sell the German industrial conglomerate's marine systems business to the private equity firm.

French airplane maker Airbus will no longer pursue discussions with French IT firm ATOS about a potential acquisition of ATOS' big data and security business line. Shares of Atos fell 19% on the Paris Euronext Market.