The European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 rose 0.84%, Germany's DAX gained 0.98%, the FTSE 100 advanced 0.69%, France's CAC increased 1.07%, and the Swiss Market Index was up 1.01%.

EU officials are concerned that new trade demands from the US will undo progress made in a recent agreement that helped bring the allies back from the brink of a trade war, Bloomberg reported Wednesday.

Earlier this month, the Trump administration sent the EU a new proposal focusing on "fair and balanced" trade, but EU officials consider the demands to be too extreme, the report said, citing people familiar with the matter. Details of the US demands have not yet been made public, as member states will be briefed on the discussions on Wednesday, the report said.

The European Commission and the White House did not immediately respond to MT Newswires' requests for comment.

In Germany, manufacturing production fell far more than expected in August, dropping 4.3% compared with July on a seasonally and calendar-adjusted basis, according to preliminary data from the Federal Statistical Office. Analysts expected a 1% decline, according to Bloomberg. Compared with a year earlier, production was down 3.9%.

And in corporate news, Stellantis and General Motors risk losing $1.1 billion retooling grants awarded by the Joe Biden administration last year, Reuters reported Wednesday, quoting official documents. The US Energy Department is considering revoking these grants, which are among the $12 billion in grants that could be retracted as a result of the ongoing partial government shutdown.

General Motors, Stellantis, and the US Energy Department did not immediately reply to MT Newswires' request for comment.

Shares of Stellantis fell 1.3% on the CAC in Paris.

Apple and Meta Platforms are nearing settlements with the European Commission to resolve antitrust cases and avoid escalating fines under the European Union's Digital Markets Act, the Financial Times reported Wednesday, citing officials briefed on the discussions. The companies are finalizing agreements with European regulators after being fined a combined 700 million euros ($813.9 million) in April for breaching the act, the report said.

Apple, Meta Platforms and the European Commission did not immediately respond to MT Newswires' request for comment.

Shares of BMW fell more than 5% in Frankfurt Wednesday after it said Tuesday that its "targeted volume growth in China remained below expectations" and cut its Q4 volume forecast.

Shell is working with the Indonesian government and other stakeholders to restock gasoline at its local fuel stations as quickly as possible, a company spokesperson said in an email to MT Newswires. The statement followed a Bloomberg report that said the company's retail stations in Indonesia are experiencing gasoline shortages for the second time in less than two months, due to ongoing import restrictions.

The company said on its website late last week that three types of gasoline are currently unavailable at stations across the country.

Shares of Shell were off 0.5% on the FTSE 100 in London.