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European Markets Put on Mixed Show

Burberry, Gemfields and Marks & Spencer were among stocks posting gains.

LONDONThe major European indexes were mostly down during mid-morning trading on Tuesday, with the FTSE MIB falling the furthest, by 0.7 percent to 17,391.59.


It was followed by Paris’ CAC 40 and Frankfurt’s DAX, which were both down 0.4 percent, to 4,006.56 and to 8,426.35 respectively.


London’s FTSE 100 inched up 0.1 percent to 6,762.74.


The pound was trading at $1.51 against the dollar, the euro $1.31 and the Swiss franc $1.07 at 11.15 a.m. CET.


Retail and luxury stocks were putting on a mixed show, with the day’s biggest gainers including Gemfields, up 4.4 percent to 0.24 pounds; Marks & Spencer, 4.6 percent to 4.61 pounds, despite posting a pre-tax profit drop for the year to 30 March; and Burberry, 1.6 percent to 14.87 pounds, after it said full-year net profit fell 3.4 percent due to extraordinary costs related to the termination of the company’s former beauty license with Inter Parfums SA.


Losing ground were Ferragamo, down 0.8 percent to 24.64 euros; The Swatch Group, 1.6 percent to 101.80 Swiss francs; and Compagnie Financière Richemont, 0.7 percent to 89.45 Swiss francs.