European Equities Close Little Changed in Wednesday Trading; Eurozone Private Business Economy Expands for 6th Straight Month

12:10 PM EST, 12/03/2025 (MT Newswires) -- The European stock markets closed little changed in Wednesday trading as the Stoxx Europe was up 0.08%, Germany's DAX edged 0.1% lower, the FTSE 100 shed 0.1%, France's CAC increased 0.16%, and the Swiss Market Index was off 0.25%.

The eurozone's private sector economy expanded for the sixth straight month in November, according to the HCOB Eurozone Composite PMI Output Index, which increased to its highest reading since May 2023 to 52.8 from 52.5 in October, and remained above the survey's long-run average of 52.4.

The accelerated rise in activity was aided by stronger sales growth, with the demand for services growing for a fourth month, Hamburg Commercial Bank said.

"The service sector in the eurozone is showing clear signs of recovery," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said in a statement. "The strong performance in the service sector was even enough to more than offset the weakness in the manufacturing sector.

Meanwhile, the headline seasonally adjusted S&P Global UK Services PMI Business Activity Index declined to 51.3 in November, down from 52.3 in October.

"November data revealed an abrupt end to the steady improvement in order books seen since the summer," Tim Moore, economics director at S&P Global Market Intelligence, said in a statement.

And in corporate news, Stellantis is the target of a class action lawsuit launched by the CLCV accusing the automaker of a late and disorganized recall campaign relating to defective Takata airbags, the French consumer association said Wednesday.

The recall program caused harm to customers, including the expenses and loss of enjoyment and due to prolonged inability to use the vehicles, as well as anxiety, the association said.

Shares of the automaker surged 7.6% in Paris.

HSBC said Wednesday it has appointed Brendan Nelson as group chair.

Nelson, who joined the board in September 2023, has served as interim group chair since Oct. 1, 2025. He will continue to serve as chairman of the group audit committee until the release of the company's 2025 results in February.

Shares of the British lender declined 1.6% in London.

BBVA Chief Executive Onur Genc said the company does not plan any M&A operations in Italy, Il Sole 24 Ore Radiocor reported Wednesday, citing comments on the sidelines of a press meeting in Milan.

"We are here as a digital bank and in the future we see only digital banking," Genc was quoted as saying.

BBVA did not immediately reply to MT Newswires' request for comment.

Shares of the Spanish lender were little changed in Madrid.

Unilever's Magnum Ice Cream unit has found deficiencies in financial controls and governance in an audit of Ben & Jerry's Foundation, a company spokesperson said in a statement e-mailed to MT Newswires Wednesday.

The audit of the independent, charitable organization also highlighted deficiencies in other compliance policies, including conflicts of interest, the spokesperson said.

Shares of the consumer goods giant were off 0.7% in London.

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