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European Stock Markets Put on Mixed Show

Shares in online retailer Asos.com climb 3 percent on double-digit profit increase.

LONDON — Europe’s stock markets were mixed in mid-morning trading on Tuesday, with the DAX in Frankfurt registering the biggest gain.

The German market advanced 0.8 percent to 7,939.48, while the FTSE 100 in London edged up 0.04 percent to 6,460.58.

The CAC 40 in Paris fell 0.04 percent to 3,867.20, while the FTSE MIB in Milan edged down 0.03 percent to 16,925.29.

The euro traded at $1.31 against the dollar, while the pound fetched $1.55, and the Swiss franc equaled $1.06 at 11:30 a.m. CET.

Retail and luxury stocks put on a mixed show. Among the morning’s biggest risers was Asos.com, which advanced 3 percent to 31.67 pounds after posting a 22 percent gain in first-half profits to 19.4 million pounds. As reported, revenues in the first half grew 33.2 percent to 359.7 million pounds, and in the second quarter they climbed 36.7 percent to 190.3 million pounds.

“Momentum is strong, and we remain positive in our outlook for 2012/13 as we continue our journey to becoming the number one online fashion destination for twenty-somethings, globally,” asserted Asos founder and chief executive Nick Robertson. “Our international roll out continues and our one billion pounds sales ambition for the group is firmly in our sights.”

Robertson noted that in-country teams now operate in five key strategic countries: The U.K., U.S., Australia, France and Germany, and that Asos is seeing strong growth in these territories as a result. “Our next focus is on ‘tactical’ countries, and we already have dedicated Web sites in Italy and Spain and are now focussing on our expansion into the People’s Republic of China and the Russian Federation,” he added.

Other stocks on the rise included Metro AG, up 1.3 percent to 23.77 euros; and Safilo Group, up 1.6 percent to 12.43 euros.

Among the stocks that lost the most ground in mid-morning were Unilever, down 1.9 percent to 32.10 euros, and Luxottica Group, 2.1 percent to 40.07 euros.