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Market Update

Earnings Support European Markets; Ukraine Caps Gains

European markets were slightly higher Tuesday with shares rising after some upbeat earnings reports.

Howevr, gains were capped by the continuing violence in Ukraine despite a fresh round of sanctions on Russia and on allies of President Vladimir Putin. One of the sanctions includes denying export licenses for any high-technology items that could add to Russia's military capabilities, and revoking those licenses that meet those conditions.

The FTSE was up 0.5%. The CAC 40 Paris slipped 0.1% while the German DAX added 0.5%.

In economic data, German consumer climate remained unchanged while French consumer confidence was dented, showing a reading of 85 from a previous reading of 88.

U.K.'s economy grew less-than-expected, its gross domestic product up 0.8%, slightly lower than hopes for a 0.9% increase, although marking the fifth straight quarter of growth.

Spain's unemployment rate ticked up in the first quarter to 25.9% from 25.7% in the preceding quarter.

Private sector lending in the euro-zone remained unchanged in March, down 2.2%, same as in February, and slightly worse than expectations calling for a fall of 2.1%.

German consumer inflation data is due slightly later.

Stocks on the Move

Shire PLC was up 3.9% on reports Allergan is preparing to approach the company again about a potential takeover offer, having already being rejected once in the recent past.

BP PLC was up 0.8% after results.

AstraZeneca PLC fell 0.7% after Pfizer confirmed it is interested in acquiring the British company for about 58.8 billion pounds.

Shares of carmaker Peugeot SA revved 4.4% after the company launched a 1.95 billion euro rights issue saying it is offering stock to investors at 6.77 euro a share following its stake sale to Chinese partner Dongfeng Motor and to the French government.

Nokia was up 7.2% in Helsinki after results while Infineon Technologies gained 0.7%.

Also after upbeat results, Deutsche Bank advanced 2.4%.

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