LONDON — European stock markets, which rallied on Monday following news that Greece will most likely receive a third bailout and remain in the euro zone, were in retreat in midmorning trading on Tuesday.

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Milan’s FTSE MIB fell 0.6 percent to 23,027.87; followed by the DAX in Frankfurt, 0.3 percent to 11,452.14, and the FTSE 100 in London, 0.03 percent to 6,735.98. The CAC 40 edged up 0.04 percent to 5,000.05.

The euro traded at $1.11, while the pound fetched $1.55 and the Swiss franc equaled $1.06 at 10:00 a.m. CET.

Retail and luxury stocks were uneven, with the morning’s biggest gainers including, 1.9 percent to 37.59 pounds;, 1 percent to 0.29 pounds; Tesco and J. Sainsbury, 0.7 percent to 2.14 pounds and to 2.65 pounds, respectively.

Among the stocks that lost the most ground were French Connection, 4.6 percent to 0.42 pounds;, 2.1 percent to 0.70 pounds; Luxottica Group, 0.8 percent to 62.20 euros; and Geox, 0.9 percent 3.50 euros.

Greece’s parliament has until the end of Wednesday to pass a series of tough reforms aimed at raising money and reducing debt before it can qualify for the third bailout.

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