12:18 PM EDT, 09/16/2025 (MT Newswires) -- The European stock markets closed sharply lower in Tuesday trading as The Stoxx Europe 600 lost 1.15%, Germany's DAX dropped 1.79%, the FTSE 100 was down 0.88%, France's CAC fell 1%, and the Swiss Market Index declined 1.03%.

Seasonally adjusted industrial production increased 0.3% in the euro area and 0.2% in the EU in July compared with June, according to preliminary data from Eurostat, the statistical office of the EU. Compared with July 2024, industrial production rose 1.8% each in the euro area and the EU.

In the UK, the Office for National Statistics estimated the number of payrolled employees in the country declined 142,000, or 0.5%, over the one-year period ending in July. It also said that the preliminary estimate of payrolled employees for August decreased 127,000, or 0.4%, over a one-year period.

In Germany, the ZEW indicator released by the Center for European Economic Research rose to 37.3 points in September, from 34.7 points in August. But the assessment of the current economic situation slid to -76.4 points in September, down 7.8 points from the previous month, ZEW said. The expectations for the eurozone rose 1 point to 26.1 points in September from August.

And in corporate news, Novo Nordisk will overhaul job titles across its senior management ranks starting next year as part of a restructuring under new Chief Executive Maziar Mike Doustdar, Bloomberg reported Tuesday, citing an internal company memo. Novo declined to comment on the internal documents in response to a request for comment from MT Newswires.

Novo Nordisk also intends to file a request with the US Food and Drug Administration for approval of a higher dose version of its weight-loss drug Wegovy, Bloomberg reported Tuesday. Novo Nordisk did not immediately respond to a request for comment from MT Newswires.

Shares of Novo Nordisk gained 1.1% in Copenhagen.

Unilever said Tuesday it appointed Srinivas Phatak as chief financial officer, effective immediately. The company named Phatak as acting CFO in February.

Shares of the consumer goods giant closed 1% lower in London.

European financial services stocks were down in Tuesday trading as Commerzbank and Deutsche Bank led the decliners on the DAX, falling 4.1% and 3.3% respectively. In Paris, Societe Generale led the losers, dropping 3.6%, while Credit Agricole and BNP Paribas lost 1.8% and 1.4% respectively. And in London, Barclays declined 2.6%, followed by NatWest and Standard Chartered, which were off 2.5% and 2.3% respectively.