12:20 PM EDT, 05/28/2024 (MT Newswires) -- The European stock markets closed lower in Tuesday trading as The Stoxx Europe 600 declined 0.60%, the Swiss Market Index lost 0.89%, France's CAC was down 0.92%, the FTSE in London fell 0.76%, and Germany's DAX dropped 0.48%.

The European Central Bank said Tuesday that the median rate of perceived inflation over the next 12 months among consumers declined from 3.0% in March to 2.9% in April, which is its lowest level since September 2021. Median expectations for inflation over the previous 12 months were unchanged at 5.0%, while expectations for inflation three years ahead declined to 2.4% from 2.5% in March.

The European Council adopted a regulation Monday to track and reduce methane emissions, which includes new requirements on measuring, reporting, and verifying methane emissions in the energy sector.

In Germany, wholesale sales prices were down 1.8% in April, compared with April 2023, according to the Federal Statistical Office.

And in corporate news, oil and gas companies BP, Shell, and EOG Resources submitted six bids on four offshore blocks in Trinidad and Tobago to explore for oil and gas, the country's energy ministry said on its website on Monday. The ministry said it will evaluate the bids and announce the winners in four months.

Amsterdam-based automaker Stellantis said Monday that it plans to develop a hybrid version of the Fiat 500 at the Mirafiori factory and allocate a new hybrid version of the Jeep Compass to the Melfi plant. Stellantis' shares closed 0.7% lower on the CAC in Paris.

Deutsche Telekom-owned T-Mobile US has signed a definitive agreement with United States Cellular and Telephone and Data Systems to acquire its wireless operations and select spectrum assets in a deal valued at $4.4 billion, including a combination of cash and up to about $2 billion of assumed debt, the companies said Monday.

Chinese biotech firm MediLink Therapeutics said Tuesday that German biotech firm BioNTech has received an exclusive licensing option to develop several prospective treatments using the Tmalin antibody-drug conjugate platform developed by MediLink. Under the terms of the deal, BioNTech will pay $25 million upfront to MediLink, which will also be eligible to receive up to $1.8 billion in development, regulatory and sales milestones, as well as royalties on potential future sales.

And shares of Dublin-based gambling company Flutter Entertainment fell more than 7.4% on the FTSE after the Illinois senate in the U.S. reportedly passed a bill to raise sports betting taxes.