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Market Update

European Markets Trade Flat; Pare Opening Gains

European markets remained steady Wednesday after paring some of their opening gains.

The FTSE traded flat. The CAC 40 Paris was up 0.5% while the German DAX also traded flat.

Data earlier today showed French non-farm payrolls fell in the last quarter.

In other developments in the region, European Union finance ministers were said to have moved closer to an agreement on a European banking union, seen as important in averting a repeat of the region’s financial crisis.

Resources were lower with miners affected by a bearish update from BHP Billiton.

Stocks on the Move

RBS fell 1.9% after its finance director Nathan Bostock resigned to join Spanish bank Santander after just ten weeks in the job.

Imagination Technologies plummeted over 14% after the company reported sales that missed expectations.

Aussie miner BHP Billiton sank 1.5%. Rio Tinto and Anglo American were down 1.3% and 1.6% each, respectively.

French drug-maker Sanofi gained 1.5% after it said the U.S. FDA has granted a six-month priority review status for its application for Eliglustat, an experimental oral treatment for patients with Gaucher disease.