11:56 AM EDT, 06/03/2026 (MT Newswires) -- European stock markets closed lower Wednesday as the Stoxx Europe 600 fell 0.7%, Germany's DAX 40 shed 1.3%, the FTSE 100 declined 0.4%, and France's CAC 40 and the Swiss Market Index each dropped 0.7%.

The seasonally adjusted S&P Global Eurozone Composite PMI Output Index, which gauges private sector business activity, declined to 48.5 in May from 48.8 in April, the sharpest downturn in 18 months.

"With business activity in the eurozone falling for a second successive month in May, it is looking increasingly likely that the economy will slip into contraction" in Q2, S&P Global Market Intelligence Chief Business Economist Chris Williamson said in a statement. "The PMI data are indicating a 0.2% quarterly GDP decline barring any significant change in June."

In corporate news, Novo Nordisk launched its Wegovy oral tablet in the United Arab Emirates and plans to expand to select additional markets in H2.

Shares of the Danish pharmaceutical company dropped 2.1% in Copenhagen.

Stellantis will produce three new electric and hybrid Peugeot models at its Mulhouse facility in eastern France from 2029 as part of its STLA One platform, Reuters reported Tuesday.

CEO Antonio Filosa said the company targets 2 million vehicles annually on the STLA One platform by 2035, the report said.

Shares of the automaker lost 4.2% in Paris.

Ericsson's Vonage launched industry-specific AI agents for healthcare, financial services and retail contact centers.

Shares of the Swedish telecommunications company fell 0.3% in Stockholm.

Deutsche Bank may set aside more money for loan losses than analysts expected in Q2, though provisions are expected to be lower than in the previous quarter, Bloomberg News reported, citing Chief Financial Officer Raja Akram.

Shares of Deutsche Bank fell 3.6% in Frankfurt.