LONDON — European stock markets struggled to make gains in midmorning trading on Tuesday, with the FTSE 100 in London the only market on the upswing.
The British market climbed 0.2 percent to 6,103.45, while the FTSE MIB in Milan was flat at 20,726.04. The DAX in Frankfurt lost the most ground, falling 0.5 percent to 10,228.68. The CAC 40 in Paris was down 0.5 percent to 4,501.29.
The euro traded at $1.09 while the pound fetched $1.47 and the Swiss franc equaled $1.00 at 11:20 a.m. CET.
Retail and luxury stocks also struggled to make gains, with the morning’s biggest risers including Tesco, 1.4 percent to 1.44 pounds; Aeffe, 1.8 percent to 1.44 euros, and Unilever, 0.5 percent to 38.88 euros.
Among the morning’s biggest fallers was Metro AG, 2.9 percent to 27.24 euros; Britain’s Bonmarche Holdings, 3 percent to 1.80 pounds; Italia Independent Group, 2.2 percent to 25.62 euros; Hermès, 2.7 percent to 302.70 euros, and British retailer Next, 5.2 percent to 68.15 pounds.
The Next stock fell after full-price brand sales fell short of analysts’ expectations in the fourth quarter. Sales climbed 0.4 percent in the three months to Dec. 24, compared with market projections of 5.8 percent — and 6 percent growth in the third quarter. Next blamed the shortfall on increased online competition and problems with stock in October. Management’s full-year profit before tax projection of 817 million pounds, however, remains within original guidance.