The European stock markets closed mixed in Tuesday trading as The Stoxx Europe 600 rose 0.38%, Germany's DAX gained 0.44%, the FTSE 100 edged 0.04% lower, France's CAC was up 0.54%, and the Swiss Market Index declined 0.19%.
European business activity continued to grow in the Eurozone in September, according to preliminary readings of the HCOB Flash Eurozone Composite PMI Output Index, which rose to 51.2 from 51.0 in August.
"Manufacturing output has increased for the seventh month in a row, and business activity in the services sector has been expanding almost continuously since February 2024," Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said in a statement. "That said, we're still a long way from seeing any real momentum."
In the UK, the seasonally adjusted S&P Global Flash UK PMI declined to 51.0 in September, down from its 16-month high of 53.5 in August. Since May, the index has remained above the 50.0-point threshold that demarcates growth from expansion.
And in corporate news, the European Union is set to examine whether Microsoft, Apple, Alphabet's Google, and Booking Holdings are doing enough to combat online financial fraud, the Financial Times reported Tuesday.
Regulators will send formal requests for information under the bloc's Digital Services Act to assess how the companies handle fake applications in their app stores, fake search results and fake accommodation listings, the report said, citing EU's tech chief Henna Virkkunen.
"Today, the Commission has sent requests for information under the DSA to Apple, Booking, Microsoft and Google on how these platforms manage risks related to financial scams," a European Commission spokesperson told MT Newswires in an emailed statement.
Microsoft, Apple, Google and Booking did not immediately respond to MT Newswires' request for comment.
The European Commission also said Tuesday that it has approved the acquisition of joint control of DHL Parcel UK and EVRi, both based in the UK, by Apollo Capital Management of the US and DHL eCommerce International Holdings of the Netherlands, part of the Deutsche Post group of Germany.
The Commission said the notified deal would not raise competition concerns due to the joint venture's "negligible activities in the European Economic Area and the companies' limited combined market position resulting from the proposed transaction."
Shares of Deutsche Post rose 1.8% on the DAX.
STMicroelectronics announced on Tuesday that it will lead the STARLight project, a consortium of top industrial and academic partners aimed at strengthening Europe's position in 300mm silicon photonics.
Running through 2028, the company said the project will focus on developing high-speed, energy-efficient optical technologies for data centers, AI clusters, telecom, and automotive applications.
Shares of the semiconductor company gained 2.6% in Paris.
UBS Group said Tuesday it has agreed to pay 835 million euros ($985.0 million) to resolve the legacy tax matter pertaining to its cross-border business activities in France between 2004 and 2012.
The Swiss banking giant will pay a fine of 730 million euros and 105 million euros in civil damages, it said.
Shares of UBS were up 0.5% in Zurich.