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Market Update

European Markets Trade Lower

European markets were all lower Friday.

The FTSE was down 0.7%. The CAC 40 Paris was 0.6% lower while the DAX also gave up 0.8%.

Earlier, Bank of England Governor Mark Carney said interest rates could rise sooner than the financial markets expected and that he was concerned by signs that mortgage lending standards were getting lax.

Data today showed the euro-zone’s trade balance rose less-than-expected in the last quarter to EUR15.8 billion, up from EUR15.4 billion in the preceding quarter.

Stocks on the Move

Barrat Developments PLC was down 4.2% even as it had its BUY rating reinstated.

Oil shares were higher. Tullow Oil PLC climbed 1.8% while over in Paris, Total SA also added about a percent.

Renault was down 2.6% even as a survey showed a slight gain in car orders for May.