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Market Update

European Markets Edge Higher

European markets were edging higher Wednesday on the back of gains elsewhere in global markets.

The FTSE was up 0.2%. The CAC 40 edged up 0.1% while the DAX was up 0.3%.

Data earlier showed construction sector activity in the U.K. expanded at the fastest pace in four months in June with Markit’s construction PMI improving to a seasonally adjusted 62.6 from 60.0 in May.

Stocks on the Move

Orange SA shares fell over 3% after the company said it was dropping the idea of taking part in tie-ups in the French telecoms market.

Bouygues fell 2.1% while Iliad slumped 4%.

On the upside, Alcatel Lucent advanced 4.8% after a broker upgrade.

Auto stocks also gained throughout the region after better-than-expected sales data in the U.S. for most major auto companies. Renault SA was up 1.8% while Peugeot gained 2.2%.

Daimler AG revved up 1.3% while BMW was up 1.2%.