By  on August 30, 2012

LONDON — Most of Europe’s indices continued on a downward streak this morning.
The DAX in Frankfurt fell 0.6 percent to 6,970.91, while the CAC 40 in Paris dipped 0.2 percent to 3,408.72. The FTSE 100 in London fell 0.1 percent to 5,740.22, and the FTSE MIB in Milan was flat at 14,943.22.
Investors are still said to be in a cautious mood ahead of Friday’s meeting of central banks in Jackson Hole, Wyoming, and next week’s meeting of the European Central Bank, to see if the ECB will announce a new purchase of Spanish and Italian bonds, in order to cap those countries’ debt yields.
Fashion, luxury and retail stocks put in a mixed performance in mid-morning trading. Those that gained included Carrefour, which surged 7.8 percent to 16.97 euros as the retailer announced this morning that it had narrowed its losses in the first half of the fiscal year; Aeffe, up 2.7 percent to 0.58 euros; French Connection, which rose 2.5 percent to 21 pence; and Mulberry, up 0.7 percent to 13.18 pounds.
This morning’s fallers included Ferragamo, which slumped 3.9 percent to 16.44 euros even after the firm announced a 22.5 percent rise in its first-half net profits Wednesday; Tod’s, which fell 0.5 percent to 84.50 euros; and Richemont, down 1.9 percent to 58 Swiss francs.
The pound traded for $1.58, while the euro traded for $1.25 and the Swiss franc for $1.04.

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