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Market Update

European Markets Trade Mixed

European markets were mixed Tuesday.

The FTSE added 0.4%. The CAC 40 Paris was down 0.2% while the German DAX traded flat.

Earlier Tuesday morning, data showed French consumer confidence in May reined the same as expected.

The DAX hit a record high Monday.

Stocks on the Move

AstraZeneca fell 2% in London after Pfizer abandoned efforts to take over its British rival.

Lloyds Banking Group was up 0.9%. The lender said it will sell a 25% stake in its TSB consumer bank in an IPO next month.\

Hotelier Accor addded 1.3% in Paris after agreeing to buy properties in Germany and the Netherlands for about 900 million euro. Accor also said it is in exclusive talks to buy 11 more hotels in Switzerland.

Alstom SA edged 0.2% lower.

Siemens was down 0.4%. Reuters reported citing sources that Siemens was preparing a final offer for Alstom.

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