LONDON – European stock markets were uneven in mid-morning trading on Friday, with Milan’s FTSE MIB down 1.1 percent following the Italian prime minister’s resignation this week.
The Italian market dipped to 18,231.45 after Matteo Renzi handed in his resignation, after a referendum on downsizing Italy’s upper house of parliament was voted down. The country will soon be in the hands of a caretaker government, and could see early elections.
The DAX in Frankfurt was also down, falling 0.3 percent to 11,148.29, while the FTSE 100 in London was up 0.2 percent to 6,942.31 and the CAC 40 in Paris climbed 0.1 percent to 4,741.03.
The euro traded at $1.07, while the pound fetched $1.26 and the Swiss franc equaled $0.99 at 11:20 a.m. CET.
Retail and luxury stocks seesawed, with the morning’s biggest gainers including Carrefour, 1.3 percent to 23.19 euros; Joules Group, 1.2 percent to 1.98 pounds, and Debenhams, 1.4 percent to 0.58 pounds.
Among the stocks that lost the most ground were the Swatch Group, 1.4 percent to 62.10 Swiss francs, and Compagnie Financière Richemont, 1 percent to 67.10 Swiss francs.