12:19 PM EST, 11/13/2024 (MT Newswires) -- The European stock markets closed slightly lower in Wednesday's trading session, except for the FTSE in London, which nudged 0.06% higher. The Stoxx Europe was off 0.17%, Germany's DAX declined 0.30%, France's CAC was down 0.14%, and the Swiss Market Index closed 0.07% lower.

According to the Global Business Outlook Survey for worldwide manufacturing and services, 24% of companies predict a rise in business activity in the coming year, down from 28% in October. S&P Global, which produces the survey three times a year, attributed the decline in part to economic growth concerns in the Eurozone. It also said Eurozone companies were "downbeat" regarding profitability for the eighth straight survey, with negativity concentrated in Germany and France.

Meanwhile, UK businesses also lowered their expectations over the next 12 months with 41% forecasting business activity growth, down from 44% in June and to its lowest point since the same time last year.

And in corporate news, BioNTech said Wednesday it agreed to acquire biotechnology company Biotheus. Under the terms of the deal, the German biotech firm will acquire 100% of Biotheus for $800 million, mainly in cash with a small portion of American depositary shares, plus additional performance-based contingent payments of up to $150 million if the milestones are met.

The US government is probing UBS regarding Russian clients the Swiss bank acquired when it bought Credit Suisse, Reuters reported on Wednesday, adding that UBS faces potential consequences if it does not resolve the issue. UBS did not immediately respond to an MT Newswires request for comment.

Shell's Singapore refinery is on track to complete its sale to a joint venture between Indonesia's Chandra Asri and Switzerland's Glencore by Q1, Reuters reported Wednesday, citing sources familiar with the matter. Shell, Chandra Asri, and Glencore did not immediately reply to MT Newswires' request for comment.

Banco Bilbao Vizcaya Argentaria is willing to drop its bid to acquire Banco Sabadell if strict Spanish regulatory rules undermine the deal's appeal, BBVA Chief Executive Onur Genc said. Banco Sabadell didn't immediately respond to MT Newswires' requests for comment.

And Nokia said Wednesday that it has acquired Rapid's technology assets, including its application programming interface and its research and development unit. The Finnish telecommunications company said the deal will help it expand its network API products.