12:12 PM EDT, 06/18/2025 (MT Newswires) -- European stock markets closed mostly lower in Wednesday trading as Germany's DAX declined 0.50%, France's CAC 40 lost 0.36%, the Stoxx Europe 600 fell 0.36% and the Swiss Market Index slipped 0.4%, while the FTSE 100 in London was up 0.11%.

The UK's annual inflation rate dropped to 3.4% in May from 3.5% in April, based on data from the Office for National Statistics. The latest reading matched the consensus estimate for the month.

In the eurozone, the annual inflation rate was 1.9% in May, down from 2.2% in April, according to final data from Eurostat. The final reading is in line with the flash estimate.

The euro area's current account surplus fell to 20 billion euros ($23.05 billion) in April from 51 billion euros in March, according to data from the European Central Bank.

In corporate news, French planemaker Airbus signed a memorandum of understanding with MTU Aero Engines to jointly develop a hydrogen-powered fuel cell engine for commercial aviation. Airbus and MTU Aero Engines were among the top performers on the DAX, rising 1.4% and 3.3%, respectively.

Energy giant TotalEnergies and vegetable oils and proteins company Avril agreed to jointly study the development of a French intercropping sector for the production of sustainable aviation fuels. Under the joint study deal, Avril will supply vegetable oils from intermediate crops to TotalEnergies, which will turn them into sustainable aviation fuels.

Banco Santander has reached out to Spanish peer Banco de Sabadell about a potential takeover of the latter's British high street bank, TSB, Sky News reported, citing sources. NatWest Group, Barclays and HSBC are also touted as potential suitors for TSB but at least two of the three lenders are believed to have little interest in making an offer, the report said.

Santander and NatWest declined to comment when contacted by MT Newswires. Barclays and HSBC didn't immediately respond to requests for comment, while Sabadell and TSB couldn't be reached for comment.

Swiss lender UBS Group's company data was stolen in a cyber attack on one of its suppliers, Le Temps reported Tuesday, citing German specialist service Inside IT. A spokesperson from UBS confirmed the attack to MT Newswires and reiterated that no client data was leaked as the company took "swift and decisive action" to prevent any impact on operations.