LONDON — Most of Europe’s markets were down in trading Monday morning.
The CAC 40 in Paris lost 0.7 percent to 4,888.02, while the DAX in Frankfurt fell 0.5 percent to 11,143.60. The FTSE 100 in London slipped 0.1 percent to 6,7797.51, and the FTSE MIB in Milan was flat at 22,853.04.
The FTSE 100 in London edged down as the Confederation of British Industry (CBI) said Monday that it is forecasting economic growth of 2.4 percent in 2015 and 2.5 percent in 2016. The forecasts were a slight downgrade from February’s predictions, of 2.7 percent for 2015 and 2.6 percent for 2016. The CBI said the downgrade was a result of weaker-than-expected GDP data for the first quarter of 2015, which the organization said it believes is a “temporary blip.”
Fashion, luxury and retail stocks had a varied start.
Those that lost ground included Koovs, down 2.7 percent to 0.72 pounds; Asos, 2.2 percent to 37.84 pounds; Tesco, 1.6 percent to 2.02 pounds, and Aeffe, 1.2 percent to 2.22 euros.
Among the risers were Jimmy Choo, up 1.8 percent to 1.69 pounds; Bonmarché Holdings, 1.5 percent to 2.74 pounds, and LVMH Moët Hennessy Louis Vuitton, 1.1 percent to 162.05 euros.
At 11:14 a.m. CET, the pound traded for $1.53, while the euro went for $1.11.