LONDON — Political and economic uncertainty rumbled Europe’s major markets on Tuesday following a long holiday weekend in parts of Europe and the United States.
The U.K. general election, set to take place next week, and doubts about growth in the euro zone expressed by European Central Bank president Mario Draghi, dragged markets down, with the CAC 40 in Paris leading the way.
The French market fell 0.9 percent to 5,282.87; followed by the FTSE MIB in Milan, 0.6 percent to 20,664.22, and the FTSE 100 in London, 0.5 percent to 7,512.17. The DAX in Frankfurt was down 0.3 percent to 12,596.11.
The euro traded at $1.12, while the pound fetched $1.28 and the Swiss franc equaled $1.03 at 10:40 a.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Aeffe, 2.6 percent to 1.77 euros; Mulberry, 2.1 percent to 10.58 pounds; Safilo Group, 1.6 percent to 6.70 euros, and Koovs.com, 2.7 percent to 0.34 pounds.
Among the few stocks that gained any ground were Moncler, up 1 percent to 21.46 euros, and Joules, 2.4 percent to 2.76 pounds.