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BNP Paribas, Entergy-Koch expand European presence

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Two more companies announced new or expanded operations in the European energy markets in January, giving further signs that the sector is recovering from its post-Enron slump last year.French bank BNP Paribas says it plans to start a European power trading desk as part of its energy and commodity business. The team will comprise three traders based in London who will report to Jean-Marc Bonnefous, global head of commodity-indexed transactions at BNP in New York. A BNP spokeswoman would not