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Market Update

European Markets Trade Weak

European markets traded weak Tuesday as investors paused after driving up stocks for three sessions in a row.

The FTSE declined 0.5%. The CAC 40 Paris and the DAX both edged up 0.1% each.

A barrage of data earlier showed the unemployment rate in Switzerland held steady at 3% in May. Another report showed retail sales declined 0.4%, confounding expectations for a 3.5% increase.

In the U.K., data showed both manufacturing and industrial output held steady as expected.

Stocks on the Move

Imperial Tobacco PLC was up half a percent. The company said earlier today it intends to float its European logistics division on the Spanish stock market.

Over in Paris, Orange SA was down 2.1% as it gave back yesterday’s gains.

Deutsche Telekom edged up 0.1%.