12:02 PM EDT, 03/19/2025 (MT Newswires) -- The European stock markets were moving mixed in Wednesday trading as The Stoxx Europe 600 rose 0.15%, Germany's DAX was down 0.50%, the FTSE 100 in London was up 0.03%, France's CAC 40 increased 0.64%, and the Swiss Market Index was off 0.01%.

The annual inflation rate in the euro area declined to 2.3% in February from 2.5% in January, and 2.6% a year earlier, according to Eurostat, the statistical office of the European Union. Meanwhile, annual inflation in the EU declined to 2.7% in February from 2.8% both the previous month and a year earlier.

The lowest annual rates were in France (0.9%), Ireland (1.4%) and Finland (1.5%), while the highest annual rates were in Hungary (5.7%), Romania (5.2%) and Estonia (5.1%). Compared with January, annual inflation fell in 14 member countries, rose in seven, and remained unchanged in six.

The European Union's European Commission said Tuesday that preliminary findings show two of Alphabet's services do not comply with the Digital Markets Act. Separately, the Commission also said Tuesday it has adopted two decisions under the DMA specifying requirements Apple must meet in order to comply with its interoperability obligation.

The European Union is set to tighten steel import quotas to reduce inflows by an additional 15% beginning next month to prevent cheap steel from flooding its market, Reuters reported Wednesday, citing European Commission executive vice-president Stephane Sejourne. "During a period when nobody is respecting WTO rules and everyone refers to national security ... the EU can't be the only continent that lets its industry fall apart," Sejourne told Reuters.

And in corporate news, UBS Group is closing its outsourced trading desk, multiple media outlets reported Wednesday. The company has started notifying its clients about the closure, giving them a three-month window to find a new provider, Bloomberg reported, citing sources familiar with the matter. UBS did not immediately reply to a request for comment from MT Newswires.

ArcelorMittal is nearing a deal with the South African government to secure funding for its local unit and keep its steel mills running, Bloomberg reported Tuesday, citing sources familiar with the matter. The government plans to provide an initial 500 million rand ($27.57 million) to pay steelworkers for the next six to eight months, the media outlet reported. ArcelorMittal and IDC did not immediately respond to requests for a comment from MT Newswires.

Telecommunications company VEON said Wednesday that its Kyivstar unit has agreed to buy a 97% stake in Ukrainian ride-hailing and delivery company Uklon for $155.2 million. VEON said it expects Uklon Chief Executive Serhii Hryshkov to remain in his role.

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