PARIS — Europe’s major stock markets were all in negative territory on Monday morning after talks between Greece and its European creditors broke down over the weekend.
Milan’s FTSE MIB led the pack, retreating 1.5 percent to 22,542.80, followed by the DAX in Frankfurt, which dipped 1.3 percent to 11,053.24. Paris’ CAC 40 was down 1 percent to 4,853.22, while London’s FTSE 100 sank 0.7 percent to 6,738.55.
Fashion, retail and luxury stocks were primarily in decline, with the biggest fallers including Metro AG, down 5.1 percent to 29.42 euros following an announcement earlier in the morning that the company and Hudson’s Bay Co. had reached an agreement over the sale of the German Galeria Kaufhof department store chain.
Aeffe retreated 2.1 percent to 1.98 euros, and Hugo Boss dipped 1.5 percent to 102.74 euros.
Stocks on the upswing included Jimmy Choo, which advanced 1.8 percent to 1.67 pounds; Mulberry Group, 0.8 percent to 9.06 pounds, and Koovs, 0.7 percent to 0.75 pounds.
At 11:20 a.m. CET, the euro traded for $1.23, while the pound changed hands for $1.55.