European stock markets experienced marginal declines during Wednesday's trading session, with the exception of London's FTSE, which edged up by 0.06%. The Stoxx Europe index fell by 0.17%, Germany's DAX decreased by 0.30%, France's CAC dropped by 0.14%, and the Swiss Market Index closed down 0.07%. The Global Business Outlook Survey for global manufacturing and services revealed that 24% of companies anticipate an increase in business activity over the next year, a decrease from 28% in October.
S&P Global, responsible for conducting the survey thrice yearly, noted that this decline was partly due to economic growth concerns within the Eurozone. The report stated that Eurozone firms were "downbeat" about profitability for the eighth consecutive survey, with the pessimism particularly pronounced in Germany and France.
In the UK, business outlooks have also dimmed, with 41% of businesses forecasting growth in activity over the next 12 months, down from 44% in June, marking the lowest level since last year. On the corporate front, BioNTech announced on Wednesday that it has reached an agreement to acquire the biotechnology company Biotheus.
The deal involves BioNTech purchasing 100% of Biotheus for $800 million, primarily in cash, alongside a small amount of American depositary shares and potential further performance-based contingent payments of up to $150 million upon meeting specific milestones. Additionally, reports surfaced that the US government is investigating UBS in relation to Russian clients acquired during its takeover of Credit Suisse.
UBS may face consequences if it fails to address this issue promptly. In other developments, Shell's Singapore refinery is nearing the completion of its sale to a joint venture between Indonesia's Chandra Asri and Glencore from Switzerland, expected to finalize by the first quarter. Both Shell and Chandra Asri, along with Glencore, have yet to provide responses to requests for comments.
Banco Bilbao Vizcaya Argentaria (BBVA) is reconsidering its bid to acquire Banco Sabadell if stringent Spanish regulations compromise the deal's attractiveness, according to BBVA's Chief Executive Onur Genc. Banco Sabadell has not responded to inquiries regarding this matter. Nokia also reported on Wednesday that it has acquired certain technology assets from Rapid, including its application programming interface (API) and research and development unit.
The Finnish telecommunications leader emphasized that this acquisition will aid in the expansion of its network API product offerings..