LONDON – Europe’s markets were all in negative territory Thursday morning.
The DAX in Frankfurt dipped 0.6 percent to 12,163.78, followed by the FTSE MIB in Milan, down 0.3 percent to 23,962.37. The FTSE 100 in London and the CAC 40 in Paris both lost 0.1 percent, to 7,091.73 and 5,251.82, respectively.
Fashion, luxury and retail stocks saw gains and losses in the morning’s trading.
British department store chain Debenhams’ stock price jumped 4.8 percent to 0.83 pounds, after the retailer reported on Thursday a 1.3 percent rise in its group same-store sales in the six months to Feb. 28, while its group revenues gained 1.6 percent in the half to 1.33 billion pounds, or $2.09 billion, and pre-tax profits rose 4.3 percent to 88.9 million pounds, or $139.6 million.
Dollar figures have been calculated at average exchange rates.
Other risers included Koovs, up 4.1 percent to 0.77 pounds, and Unilever, 4.3 percent to 42.50 euros. The latter gained ground after the consumer goods firm on Thursday reported a 12.3 percent rise in its first-quarter sales to 12.8 billion euros, or $14.5 billion. While favorable exchange rates contributed to 10.6 percent of that gain, underlying sales grew by 2.8 percent, a better than expected performance.
Fallers numbered French Connection, down 2.8 percent to 0.52 pounds; Jimmy Choo, 2 percent to 1.70 pounds, and Hennes & Mauritz, 1.1 percent to 354.10 Swedish kroner.
At 11:25 a.m. CET, the pound traded for $1.48, while the euro went for $1.06 and the Swedish krona for $0.11.