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Market Update

European Markets Slip

European markets slipped in morning trade Friday.

The FTSE was 0.2% lower. The CAC 40 Paris gave up 0.6% while the DAX was off 0.1%.

In economic data, Germany's retail sales fell 0.9% in April, confounding hopes for a rise of 0.4%.

Stocks on the Move

Associated British Foods was up 0.7% following a positive broker call earlier this week.

Aussie miners BHP Billiton and Rio Tinto were down 1.8% and 2.4% each, respectively. Anglo American fell 3.3% while Glencore was down 1.3%. Vedanta Resources fell 1.4%.

BNP Paribas dropped 5.1% after a Wall Street Journal report said the U.S. Justice Department is pushing the lender to pay more than $10 billion to resolve a criminal investigation related to allegations the bank evaded U.S. sanctions against Iran and other countries for years.

Siemens AG was up 0.3% after the company said it would retrench 11,600 positions as it reduces costs by about a billion euros.