12:07 PM EST, 12/16/2024 (MT Newswires) -- European stock markets closed mostly lower in Monday trading as The Stoxx Europe was off 0.14%, Germany's DAX dropped 0.45%, the FTSE in London was down 0.46%, France's CAC declined 0.71%, while the Swiss Market Index edged 0.06% higher.

The HCOB Flash Eurozone Composite PMI Output Index compiled by S&P Global rose to 49.5 in December from 48.3 in November but remained below the 50.0 reading indicating contraction for the second straight month. Germany and France remained in contraction during December, while the rest of the Eurozone registered its fastest rate of expansion in six months.

Meanwhile, the job vacancy rate in the euro area was 2.5% in Q3, down from 2.6% in Q2 and 3.0% a year earlier, according to Eurostat, the statistical office of the European Union. The job vacancy rate in the EU was 2.3% in Q3, down from 2.4% in Q2 and 2.7% a year earlier.

In the UK, the headline seasonally adjusted S&P Global Flash UK PMI Composite Output Index remained unchanged at 50.5 in December from November, indicating a slight expansion of private sector output. However, the score remained below its H1 average index reading of 53.0.

In corporate news, HSBC is facing a lawsuit from the Australian securities regulator for allegedly failing to provide enough controls to protect customers from getting scammed out of millions of dollars, the regulator said Monday. HSBC did not immediately respond to MT Newswires' request for comment.

Shares of Entain closed more than 6% lower in London after the Australian Transaction Reports and Analysis Centre said Monday that it has begun civil penalty proceedings against the sports betting and gambling company's Australian unit. The regulator accuses Entain of "serious and systemic" non-compliance with Australia's anti-money laundering and counter-terrorism financing laws.

"We note the allegations made, which we take extremely seriously," Entain CEO Gavin Isaacs said in a statement. "We are committed to keeping financial crime out of gambling and continue to play our part in supporting a well-regulated and compliant sector." Entain also cautioned that the outcome of the civil penalty could be material.

Novo Nordisk and biotech firm Catalent said they have fulfilled all regulatory closing conditions for their pending transaction. The Danish pharmaceutical company also said it plans to invest 8.5 billion Danish kroner ($1.20 billion) to establish a new production facility in Odense, Denmark. Shares of Novo Nordisk closed more than 3% higher in Copenhagen.

British pharmaceutical company GSK said Monday that the European Medicines Agency has recommended expanding the approval of its experimental drug Jemperli, in combination with chemotherapy, to treat adults with primary advanced or recurrent endometrial cancer who are candidates for systemic therapy.