11:55 AM EST, 12/17/2024 (MT Newswires) -- European stock markets closed mixed in Tuesday trading as the Stoxx Europe was down 0.41%, Germany's DAX declined 0.30%, the FTSE in London fell 0.75%, while France's CAC was up 0.12% and the Swiss Market Index rose 0.33%.

The first estimates of euro area balance indicated a 6.8 billion euros ($7.14 billion) surplus in trade in goods with the rest of the world in October, compared with 9.4 billion euros a year earlier. The exports of goods in the euro area to the rest of the world were 254 billion euros, an increase of 2.1% compared with October 2023.

In Germany, the ZEW Indicator of Economic Sentiment declined in its November survey, falling 5.7 points from the previous month's survey to 7.4 points.

"Economic expectations for Germany have been overshadowed by Trump's victory and the collapse of the German government coalition," ZEW President Achim Wambach said in a release. "In the current survey, economic sentiment has declined - and the outcome of the US presidential election is likely to be the main reason for this."

In the UK, the number of payrolled employees barely rose between September and October, increasing an estimated 0.1%, according to the Office for National Statistics.

And in corporate news, French pharmaceutical company Sanofi and Teva Pharmaceuticals said Tuesday that a phase 2b study on duvakitug met primary endpoints in patients with ulcerative colitis and Crohn's disease. Shares of Sanofi closed 3.3% higher in Paris.

Shares of distribution and outsourcing company Bunzl fell 5.7% in London after it said Tuesday that deflation is likely to be more persistent than expected and this will likely have a "slight impact" on its group adjusted operating profit in 2024.

Stellantis is expected to present a long-term production plan to the Italian government that includes assigning a new mass market model to an Italian factory, Reuters reported Tuesday. Sources said the European automaker could manufacture the new model at either its plant near Naples or at its plant near Rome. Stellantis did not immediately respond to MT Newswires' request for comment.