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Market Update

European Markets Trade Flat

European markets gave up opening gains and traded flat Monday.

The FTSE traded flat. The CAC 40 Paris edged 0.2% lower while the German DAX was up 0.3%.

Stocks on the Move

Tullow Oil PLC slipped 2.1% after the company said a well it had drilled in Ethiopia failed to find oil.

Copper miner Kazakhmys sank 1.4% after it agreed to sell its stake in Kazakhstan’s largest power station for $1.3 billion.

Lloyds Banking Group edged up 0.2%. The lender said earlier Monday it has agreed to sell a portfolio of British corporate real estate loans for 90 million pounds.

Engineer Kentz gained 8.8% after it agreed to acquire U.S.-based Valerus Filed Solutions for $435 million.

Alstom SA was up 1.6% after the company signed a deal for two coal-fired units for power company Elektrownia Polnoc.

German consumer goods major Henkel is looking for acquisitions in the adhesives market, media reports said. Shares were marginally lower.