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Market Update

European Stocks Flat at Open

European indexes were little changed during Monday morning trades as investors shrugged off positive data from the U.S. and China.

The FTSE 100 slipped 0.2% at 8:35 a.m. in London while the CAC 40 Paris and the DAX Frankfurt were both down 0.1%.

Official reports released in the U.S. last Friday showed the world's largest economy added 157,000 jobs in January. The Labor Department also said job growth in the previous two months was bigger than initially reported. Besides, factory activity and consumer confidence data were also encouraging.

Meanwhile, data released Sunday showed China's official non-manufacturing purchasing managers' index rose to 56.2 in January from 56.1 in December.

Investors, however, refrained from making any large bets ahead of the release of some regional economic news -- U.K. construction PMI, euro-zone producer price index and Spanish unemployment rate.

Stocks on the move

Among banks, French lenders Societe Generale SA and BNP Paribas SA edged up around 0.1% each.

German bankers moved modestly lower -- Commerzbank AG and Deutsche Bank AG both lost 0.6% each.

In London, Barclays Plc. lost 0.4% after the bank said Group Finance Director Chris Lucas and Group General Counsel Mark Harding planned to retire.

Lloyds Banking Group eased 0.3%.

Among resources, BHP Billiton Plc. erased 0.7% and Rio Tinto Plc. followed closely, down 0.6%.

In corporate news, healthcare company Sanofi S.A. said the European Commission granted marketing authorization for its diabetes treatment Lyxumia in Europe. Shares of Sanofi inched up 0.2% in response.