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Market Update

European Stocks Little Changed in Early Trades

European bourses were trading near the flat-line early Wednesday despite some positive economic data from the region.

Britain's FTSE 100 was down 0.3% at 8:40 a.m. local time while France's CAC 40 Paris and Germany's DAX Frankfurt slipped 0.1% each.

Data released in Germany and France showed better than expected growth in both the countries' respective economies during the second quarter. 

Meanwhile, the number of jobless claims in the U.K. decreased significantly by a larger than expected margin in July. The country's jobless rate, however, stood steady.

Despite upbeat economic data, investors turned cautious as yesterday's robust retail sales data in the U.S. fueled worries the Federal Reserve might find economic growth strong enough to start scaling back its stimulus program.

Stocks on the Move

Most financials stocks were trading little changed across the region. Societe Generale SA and Credit Agricole SA were down 0.1% while Germany's Deutsche Bank AG slipped 1.8%.

London-listed Lloyds Banking Group added 0.3% while Barclays Plc. added 0.5%.

But miners dragged on the resource-heavy FTSE 100 index. Rio Tinto Plc. dropped 2.5%, BHP Billiton Plc. erased 0.3% and Anglo American Plc. lost around 2%.

Glencore Xstrata Plc. added 0.4% after the miner said its total own sourced copper production for the first half of 2013 was 20% higher.

Also in London, TyraTech Inc. soared 5.3% after entering into a global distribution agreement with Novartis Animal Health.

Vodafone Group Plc. erased 0.4% after it confirmed talks of acquiring German cable network operator Kabel Deutschland Holding AG.