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Market Update

European Markets Trade Flat

European markets traded flat Wednesday as they pared opening gains.

The FTSE remained unchanged. The CAC 40 Paris was up 0.3% while the German DAX edged up 0.1%.

Markit research group said Spain's services PMI rose to a 40-month high of 51.5 in November from a 49.6 the previous month.

Stocks on the Move

Sage Group shot up 8.5% after the company raised dividend and said it is on track to meet its organic revenue-growth target in 2015.

Tesco PLC edged down 0.3%, reversing strong gains after it said it is performing in line with market expectations.

Reckitt Benckiser fell 1.1% after a broker downgrade.

Elsewhere, Elekta dropped over 4% after the radiation-surgery equipment maker reported quarterly profit below expectations.

Lenders were mostly lower across the region with BNP Paribas down 0.6% and Deutsche Bank off 1%.