12:51 PM EDT, 05/20/2024 (MT Newswires) -- (Updates with Swiss Market Index closure in first paragraph.)

The European stock markets closed higher in Monday trading as the Stoxx Europe 600 was up 0.14%, the Swiss Market Index was closed, France's CAC gained 0.35 %, the FTSE in London nudged 0.05% higher, and Germany's DAX increased 0.33%.

In Italy, construction output declined 1.9% from the previous month, according to the Italian National Institute of Statistics. Compared with a year earlier, the unadjusted index decreased 5.1%, while the calendar-adjusted index increased 3.8%.

And in corporate news, UK pharmaceutical giant AstraZeneca said Monday it plans to build its first end-to-end manufacturing facility to produce antibody drug conjugates in Singapore for $1.5 billion.

Irish airline operator Ryanair said in a call with analysts Monday that it may be forced to lower ticket prices more than expected during the peak European travel season. Ryanair Chief Executive Michael O'Leary told analysts the airline's price expectations now are slightly lower than previously expected. Shares of the airline fell 1.3% in Monday trading in Dublin.

European airplane manufacturer Airbus and American plane maker Boeing are working with Saudi Arabia to get the country's aluminum and titanium approved for use in their airplanes, Bloomberg reported Monday, quoting Saudi General Authority of Civil Aviation President Abdulaziz Al-Duailej. Last year, Boeing signed a memorandum of understanding to consider the use of Saudi titanium produced by the firm Tasnee, which produces about 10% of the world's titanium sponge supply.

Dutch telecommunications company Veon said Monday that Banglalink, its digital operator in Bangladesh, has signed a memorandum of understanding with Axiata Group's Robi unit that aims to expand 4G coverage in the country. Shares of VEON rose 1.5% in Amsterdam.