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Market Update

European Stocks Push Higher

European stocks moved modestly higher in early Tuesday morning trades as investors awaited the German ZEW index of economic sentiment due later in the day.

The FTSE 100 edged up 0.1% at 8:30 a.m. London time. The CAC40 Paris climbed 0.6% and the DAX Frankfurt rose 0.5%.

Markets turned their attention towards the German economic sentiment data for February, hoping to see signs of recovery in the euro-zone largest economy.

Other data slated for release today included the ZEW index of economic sentiment for the euro-zone. Again, investors were hopeful the reading would come higher this month at 35.5, up from 31.2 reported in January. 

Stocks on the move

French dairy products producer Danon SA bounced over 5% after the company announced plans to slash around 900 jobs across Europe over the next two years in line with its turnaround efforts.

Durgmaker Sanofi SA edged up 0.4% in France after the U.S. Food and Drug Administration accepted to review its new drug application for lixisenatide, a drug to treat adults with type-2 diabetes.

Telecom giant Vodafone Group Plc. dropped nearly 3% in London amid reports the company purchased 500,000 shares to hold in treasury.

But Internetq Plc. jumped 3% after the company said it has entered a strategic partnership with Samsung Electronics to offer an enhanced mobile app and tablet experience of Akazoo.

Mining stocks were trading mixed on the resource-heavy FTSE 100 index -- BHP Billiton Plc. rose around 1% but Rio Tinto Plc. eased 0.6%.

Oil stocks were mostly lower with BP Plc. and Exxon Mobil Corp. down 0.2% each.