12:09 PM EST, 01/16/2025 (MT Newswires) -- The European stock markets rose Thursday as the Stoxx Europe 600 climbed 0.93%, Germany's DAX 40 nudged up 0.14%, the FTSE 100 in London advanced 1.09%, France's CAC 40 was up 2.14%, and the Swiss Market Index gained 1.34%.

In Germany, consumer prices rose 2.6% and 2.2% in December and year 2024 from a year ago, according to data from the Federal Statistical Office. The inflation rate in 2024 was the lowest since 2021.

The inflation rate for energy declined 1.6% in December, while food and goods prices were up 2% and 1.4%, respectively.

In the UK, retail footfall declined 8% in the week ending Jan. 12 compared to the prior week, as expected after the peaks throughout December, according to the Office for National Statistics. On an annual basis, the retail footfall was down 3%.

In Italy, the CPI rose 0.1% in December from the previous month and 1.3% from a year ago, according to the Italian National Institute of Statistics.

Trade in goods surplus of euro area with the rest of the world stood at 16.4 billion euros in November 2024, down from 18.2 billion euros a year ago, according to first estimates from Eurostat. The total volume of exports of goods to the rest of the world stood at 248.3 billion euros, down 1.6% from November 2023, and the imports fell 1% to 231.9 billion euros.

In corporate news, BP (BP) plans to implement a workforce reduction that will affect 4,700 positions internally and 3,000 contractor jobs. The company said the move is part of a multi-year program started last year to strengthen competitiveness and lower costs.

French automobile manufacturer Renault Group sold about 2.3 million vehicles in 2024, with sales growing 1.3% year over year. In Europe, the sales jumped 3.5% to about 1.6 million vehicles.