European Equities Close Mostly Higher Wednesday; Euro Area Unemployment Rises

12:32 PM EDT, 07/02/2025 (MT Newswires) -- European stock markets closed mostly higher Wednesday as the Stoxx Europe 600 gained 0.13%, Germany's DAX 40 climbed 0.41%, France's CAC rose 1.04%, and the Swiss Market Index increased 0.16%. The FTSE 100 eased 0.13%.

The euro area seasonally adjusted unemployment rate was 6.3% in May, up from 6.2% in April and down from 6.4% a year earlier, according to Eurostat, the statistical office of the EU. Analysts expected 6.2%, according to Bloomberg.

In the EU, the unemployment rate was 5.9% in May, unchanged from the previous month and down from 6% a year earlier.

The highest rates were in Spain at 10.8% and Finland at 9%, while the lowest were in Malta at 2.7% and Czechia at 2.8%.

In corporate news, TotalEnergies closed its acquisition of a 50% stake in the solar, wind and battery energy storage systems portfolio of AES Dominicana Renewables Energy.

TotalEnergies also completed the sale of 50% of its 604 megawatt wind, solar and hydro portfolio in Portugal to a group including MM Capital Partners 2 and Daiwa Energy & Infrastructure for 178.5 million euros ($209.9 million).

Shares of TotalEnergies increased 2% in Paris.

The US National Highway Traffic Safety Administration opened a recall query into about 299,000 Stellantis vehicles following complaints of faulty shifter cable bushings, Reuters reported.

Separately, Stellantis is asking for a five-year extension on stricter EU carbon dioxide emissions rules for vans, Reuters reported.

Shares of the European automaker rose 1.2% in Paris.

Italian sportscar maker Ferrari said that it won an appeal at the EU General Court, retaining its rights to the Testarossa trademark.

Shares of Ferrari fell 0.6% in Milan.

Mining stocks rallied in London with Glencore gaining 5.7%, Anglo American rising 4.9%, Antofagasta advancing 4% and Rio Tinto climbing 2.9%. ArcelorMittal rose 6% in Paris.

Luxury goods stocks rose in Paris as Louis Vuitton gained 4.4% Kering advanced 3.6% and Pernod Ricard shares gained 2%.

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