LONDON — Europe's major stock markets started the week on a down note, with the German and French markets leading the decline.
In mid-morning trading today, the DAX in Frankfurt and the CAC 40 in Paris were both down 1.1 percent, to 6,789.25 and 3,429.33 points, respectively. The FTSE 100 in London sank 0.7 percent to 5,896.72, followed by the FTSE MIB, which edged down 0.4 percent to 16,242.16.
The euro traded at $1.34, while the pound traded at $1.59 at 11:10 a.m. CET.
Retail and luxury stocks put on a mixed show. Stocks on the rise included Hugo Boss, which was up 0.1 percent to 72.73 euros; French Connection climbed 2.6 percent to 0.50 pounds; Yoox was up 1 percent to 10.56 euros, and Marks & Spencer rose 1.2 percent to 3.58 pounds.
Among the stocks that lost ground were Ferragamo, which tumbled 2.5 percent to 13.87 euros; Safilo Group, which sank 3.2 percent to 5.28 euros, and Burberry Group, which was down 1.5 percent to 14 pounds.
According to the U.K.'s Office for National Statistics, the U.K. economy shrank by 0.2 percent in the fourth quarter of 2011, caused by a lack of investment by businesses and a fall in manufacturing.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion