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European Markets Flat

Traders keep close watch on fiscal cliff talks.

PARIS — There has been little movement on the European markets in early morning trading following the Christmas break.

As traders keep their eyes on fiscal cliff talks in the US, the CAC 40 in Paris edged up 0.5 percent, the FTSE 100 in London increased 0.1 percent and the FTSE MIB in Milan rose 0.5 percent.

The DAX in Frankfurt, meanwhile, fell 0.2 percent.

Most luxury and retail stocks reflected this subdued trend, with the morning’s losers including Safilo, down 1.04 percent; the French Connection Group, which slumped 2.6 percent; and Richemont, down 1 percent.

Those that gained were Hennes & Mauritz, up 0.35 percent; the Mulberry group, which advanced 0.7 percent; and Carrefour, up 0.3 percent.

The pound was trading at $1.62, while the euro was worth $1.33 and the Swiss franc was valued at $1.09 at 10.15 a.m. CET.