12:00 PM EDT, 03/26/2025 (MT Newswires) -- European stock markets were tracking mostly lower in Wednesday trading as The Stoxx Europe 600 fell 0.50%, Germany's DAX dropped 0.70%, the FTSE 100 in London was up 0.38%, France's CAC 40 was down 0.65%, and the Swiss Market Index declined 0.41%.

In the UK, the consumer prices index rose 2.8% on an annual basis in February, down from 3.0% in January, and rose 0.4% on a monthly basis, according to the Office for National Statistics. Core CPI, which excludes energy, food, alcohol and tobacco prices, rose 3.5% on an annual basis in February, down from 3.7% the previous month.

In Spain, GDP rose 0.8% in Q4 compared with Q3, while annual GDP rose 3.4%, compared with a 3.3% increase in the previous quarter, according to the Spanish Statistical Office .

And in corporate news, Spanish lender Banco Santander is looking to sell a portfolio of Spanish mortgages worth about 462 million euros ($498.7 million), Bloomberg reported Wednesday, citing sources familiar with the matter. Banco Santander did not immediately respond to MT Newswires' request for comment.

UK oil and gas major BP said Wednesday it has obtained final ratification from the Iraqi government to redevelop several giant oil fields in Kirkuk in the north of Iraq. BP said it will establish a new operator to prepare for the initial stages of development, with an initial phase of more than 3 billion barrels of oil equivalent.

Merck said Wednesday that the European Commission has approved its drug Capvaxive for immunization against invasive disease and pneumonia caused by streptococcus in people aged 18 years or older.

Swiss lender UBS is looking to prevent the imposition of tougher Swiss banking regulations by proposing it limit the size of its investment banking operations. UBS said in a statement to MT Newswires that stability "adjustments to the regulatory framework should be targeted, proportionate and internationally aligned."