LONDON — Europe’s stock markets were down again in trading Thursday morning after Greece’s prime minister Alexis Tsipras urged Greek voters to vote “No” on the terms of a debt deal with the country’s creditors in Sunday’s referendum.
The FTSE 100 in London and the CAC 40 in Paris both receded 0.1 percent, to 6,603.16 and to 4,879.92 respectively, while the DAX in Frankfurt and the FTSE MIB in Milan were both down 0.2 percent, to 11,163.11 and to 22,909.44 respectively.
On Tuesday, Greece defaulted on its 1.5 billion euro, or $1.7 billion, payment due to the International Monetary Fund, while euro zone finance ministers rejected Greece’s request for a further 29.1 billion euro, or $32.3 billion bailout. And in an interview with Reuters Wednesday, the IMF’s managing director Christine Lagarde said that the country would have to implement reforms before being offered further debt relief.
Fashion, luxury and retail stocks were uneven in the morning’s trading.
Those that gained ground numbered Jimmy Choo, 3.1 percent to 1.61 pounds; French Connection, 2.3 percent to 0.45 pounds; Unilever, 1.3 percent to 38.55 euros, and Debenhams, 1.2 percent to 0.90 pounds.
At 11:20 a.m. CET, the pound traded for $1.57, while the euro changed hands for $1.11.