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Market Update

European Markets Flat Ahead of ECB, BOE

European markets were little changed ahead of a monetary policy decision from the ECB due later in the day.

The FTSE edged up 0.2%. The CAC 40 Paris edged up 0.1% while the DAX slipped 0.1%.

The ECB is widely expected to impose negative interest rates.

Earlier, data showed better-than-expected factory orders in Germany. New purchase orders placed with manufacturers in May rose 3.1%, up from a fall of 2.8% in April, and better than expectations calling for a gain of just 1.3%.

In the U.K., the Halifax House Price Index for May rose 3.9%, better than expectations calling for a 0.7% increase.

Investors are also eyeing an interest rate decision from the Bank of England, due slightly later, along with retail sales data from the euro-zone.

Stocks on the Move

Aussie miner BHP Billiton was down about a percent in London. Other miners were also lower.

Over in Paris, Remy Cointreau was up 1.9% as it reversed early losses after reporting results.

Deutsche Telekom AG was up over a percent even as reports said the company is nearing an agreement with Sprint to sell most of its stake in T-Mobile.

Deutsche Bank edged 0.3% lower.

Henkel gained 0.4% as it agreed to buy French laundry products group Spotless for about 940 million euros.