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Market Update

European Markets Trade Flat

European markets traded flat Friday.

The FTSE edged up 0.1%. The CAC 40 Paris and the DAX were both unchanged in early trade.

Data showed German retail sales fell unexpectedly in October, declining 0.8% from September, short of expectations for a 0.5% increase.

In the U.K., house prices rose 1% in November from the previous month, and by 5.8% on the year.

Consumer spending in France fell more-than-expected in October.

Euro-zone flash inflation estimates are due slightly later.

Elsewhere, S&P downgraded its long-term sovereign credit rating on the Netherlands to AA+ from AAA.

Stocks on the Move

Rio Tinto extended gains in London, up 0.6%.

Barclays PLC was up a percent.

Ryanair was 0.3% lower. The low-cost airline has applied for slots in the airport of Copenhagen and for permission to fly to 16 destinations from the Danish capital.

Renault slipped 0.1% in Paris.

RWE AG was up 0.6%. A German newspaper reported the utility is scrapping wage increases for managers as the company cuts costs and jobs.