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Market Update

European Markets Track Global Peers Lower

European markets tracked their global counterparts lower with investors worried over the minutes from the Fed's latest policy meeting that showed the apex bank is still considering winding down stimulus measures.

The FTSE was down 0.4%. The CAC 40 Paris fell 1% while the German DAX gave up 0.8%.

Data earlier showed Germany’s manufacturing sector expanded in November as Markit said its preliminary PMI rose to a seasonally adjusted 52.5 from 51.7 in October. Meanwhile, Markit’s preliminary French purchasing managers’ index declined to 47.8 from 49.1 in September.

Stocks on the Move

Banks and resources were lower with Rio Tinto PLC down 0.7% and BHP Billiton 0.9% lower. Glencore Xstrata was down 1.2%.

BNP Paribas and Societe Generale were down 0.7% and 1.2% each, respectively. Carrefour fell 1.5%.

In Frankfurt, Siemens AG dropped 1.6% while Deutsche Bank was down 0.9%.