By  on August 24, 2012

LONDON — Most of Europe’s major indices registered falls this morning.

The FTSE MIB in Milan was down 0.3 percent to 14,907.88, while the CAC 40 in Paris also fell 0.3 percent, to 3,421.88. The DAX in Frankfurt was down 0.2 percent to 6,939.51, while the FTSE 100 in London managed to edge up 0.1 percent to 5,779.37.
Investors were said to be looking ahead to talks later today and over the weekend between Germany’s chancellor Angela Merkel, France’s president Francois Hollande and Greece’s president Antonis Samaras. Greece hopes to request more time to implement the austerity measures on which its bailout is contingent.
Fashion, luxury and retail stocks had a more positive morning. Those who made strong gains included Brunello Cucinelli, up 4.2 percent to 14.41 euros; French Connection, which gained 2.3 percent to 22 pence; Mulberry, up 1.9 percent to 13.80 pounds; and Ferragamo, which rose 1.6 percent to 17.34 euros.
Among those that registered falls were Richemont, down 1.2 percent to 59.60 Swiss francs; Swatch Group, which lost 1.1 percent to 69.10 Swiss francs; and Burberry, which dipped 0.7 percent to 13.66 pounds.
The euro traded for $1.25, while the pound traded for $1.59 and the Swiss franc for $1.04.

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