12:04 PM EDT, 05/16/2024 (MT Newswires) -- The European stock markets closed mostly lower in Thursday trading as The Stoxx Europe 600 was down 0.24%, France's CAC fell 0.63%, the FTSE in London was off 0.08%, and Germany's DAX dropped 0.69%, while the Swiss Market Index ended the session in positive territory rising 0.40%.

The number of EU businesses declaring bankruptcy in Q1 decreased 0.8% compared with the previous quarter, while business registrations rose 1.6% according to Eurostat, the official statistical office of the EU.

In Italy, the consumer price index increased 0.1% in April on monthly basis and 0.8% compared with April 2023, according to the Italian National Institute of Statistics.

In Switzerland, economic output increased an estimated 0.2% in Q1, according to the Swiss Federal Statistical Office, which said growth in the service sector was offset by a weak performance in industry. It added that the Swiss economy continued its "subdued performance" of the previous three quarters.

The FSO also reported that the number of people in employment in Switzerland rose 1.4% in Q1 compared with a year earlier.

And in corporate news, BT Group's shares surged 17% on the FTSE in Thursday trading after it reported fiscal year 2024 earnings and said that it completed its 3 billion-pound ($3.8 billion) cost and service transformation program a year ahead of schedule.

Shares of German technology company Siemens fell nearly 7% on the DAX after it reported Q2 earnings Thursday that were down 46% from a year earlier.

HSBC shareholder Ping An Insurance is exploring ways to reduce its 8% stake in the UK-based banking giant, Bloomberg reported Thursday, citing people familiar with the matter.

Meta Platforms (META) is being investigated for potentially breaking Europe's Digital Services Act on its Facebook and Instagram platforms, the European Commission said Thursday. The Commission said it is concerned Facebook and Instagram "may stimulate behavioral addictions in children." Meta did not immediately respond to MT Newswires' request for comment.

And shares of Sage fell more than 9% on the FTSE after Chief Executive Steve Hare cited "ongoing macroeconomic uncertainty" despite the software firm reporting a 23% increase in underlying EPS in H1 of 2024.