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Market Update

European Shares Trade Lower

European markets opened the week on a low key Monday as investors eyed the release of the minutes of Federal Reserve's last policy meeting.

Britain's FTSE 100 slipped 0.3% at 8:41 a.m. London time. France's CAC 40 Paris lost 0.6% while Germany's DAX Frankfurt also retreated 0.6% at the time of writing.

Investors were playing safe as they awaited the release of the minutes of the Federal Reserve's Open Market Committee July meeting, which was expected to be released on Wednesday. Market watchers are looking for further cues as to when the central bank might start scaling back its monthly bond-purchase program.

Stocks on the Move

Financials as well as resources stocks were trading with losses across the region. Among banks, Credit Agricole SA lost a percent in France while Germany's Deutsche Bank AG slipped 0.9%.

London-listed Lloyds Banking Group plc. erased 0.7% while HSBC Holdings plc. was off 0.4%.

Among miners, top miners BHP Billiton plc. and Rio Tinto plc. erased around a percent while Glencore Xstrata plc. dropped around 2% following a Reuters report that the miner may write down around $7 billion of assets it inherited from Xstrata.

Moving in the opposite direction, Kentz Corp. soared over 21% after reports said the engineering and construction services provider has received buyout offers from companies like Amec plc. and M&W Group.