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Market Update

European Markets Gain

European markets started the second quarter on a positive note Tuesday.

The FTSE was up 0.4%. The CAC 40 Paris was up 0.6% while the German DAX added 0.4%.

Manufacturing activity in Spain expanded in March with research group Markit saying its manufacturing PMI increased to a seasonally adjusted 52.8 from 52.5 in February.

Manufacturing activity also rose in Sweden. A report by Silf and Forenings Sparbanken said Swedish manufacturing PMI rose to a seasonally adjusted 56.5 from 54.6.

Stocks on the Move

Aussie miner BNP Billiton was up 2.7% in London after the company said in an ASX notice it was considering structural options to focus on its four key markets of iron ore, copper, coal and petroleum, and potash. Media reports said the company is considering a spinning off of non-core assets including aluminum, nickel, and bauxite.

In banks, RBS was up 2.4% while Lloyds Banking Group added 1.3%.

Over in Paris, Alstom SA advanced 6.2% after it said it was selling its heat exchange unit for 730 million euros to German private equity group Triton.

Software AG was 2.5% after it agreed to sell its SAP consulting business in Germany. Austria, and Switzerland.

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