LONDON – Europe’s major markets were in retreat in midmorning trading on Tuesday, with the exception of the FTSE 100 in London, which edged up 0.1 percent to 7,247.63.
The CAC 40 in Paris and the DAX in Frankfurt both fell 0.1 percent to 4,882.44 and 11,555.30, respectively, while the FTSE MIB in Milan was broadly flat at 19,356.44.
The euro traded at $1.05, while the pound fetched $1.22 and the Swiss franc equaled $0.98 at 11 a.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest risers including Tesco, 3.6 percent to 2.08 pounds; Brunello Cucinelli, 3.7 percent to 21.39 euros; Jimmy Choo, 2.1 percent to 1.48 pounds, and Italia Independent Group, 2 percent to 5.98 euros.
Among the stocks that lost the most ground were Associated British Foods, 1.4 percent to 26.32 pounds; Aeffe, 1.9 percent to 1.14 euros; Metro, 2 percent to 30.64 euros, and Koovs.com, 1.7 percent to 0.51 pounds.
L’Oréal, which early Tuesday announced the acquisition of three U.S. skin-care brands for $1.3 billion, was down 0.2 percent to 171.05 euros on the Paris bourse.