Market Update
European markets traded weak Tuesday as investors paused after driving up stocks for three sessions in a row.
The FTSE declined 0.5%. The CAC 40 Paris and the DAX both edged up 0.1% each.
A barrage of data earlier showed the unemployment rate in Switzerland held steady at 3% in May. Another report showed retail sales declined 0.4%, confounding expectations for a 3.5% increase.
In the U.K., data showed both manufacturing and industrial output held steady as expected.
Stocks on the Move
Imperial Tobacco PLC was up half a percent. The company said earlier today it intends to float its European logistics division on the Spanish stock market.
Over in Paris, Orange SA was down 2.1% as it gave back yesterday’s gains.
Deutsche Telekom edged up 0.1%.