LONDON – Europe’s markets were largely down in trading Monday morning.
The CAC 40 in Paris lost 1.4 percent to 5,020.14, while the FTSE MIB in Milan slipped 0.7 percent to 23,160.14 and the DAX in Frankfurt dipped 0.4 percent to 11,668.52. The FTSE 100 in London was the exception, rising 2.8 percent to 7,077.40.
Reuters pointed to investors’ concerns over whether Greece will agree a debt deal with its creditors as weighing on the stocks’ performance, with the country due to repay a 750 million euro, or $839 million at current exchange, debt to the International Monetary Fund on Tuesday. But the FTSE 100 continued to rise on Friday’s news that David Cameron’s Conservative Party had won the U.K.’s general election, averting the political uncertainty of a hung parliament.
Fashion, luxury and retail stocks had an uneven morning.
Risers included Asos, up 3.2 percent to 36.74 pounds; Tesco, 2.3 percent to 2.34 pounds, and Gemfields, 1.7 percent to 0.61 pounds.
Among the fallers were Bonmarché Holdings, down 8.8 percent to 2.60 pounds; MySale Group, 3 percent to 0.49 pounds, and Yoox, 2.4 percent to 27.96 pounds.
At 11:12 a.m. CET, the pound traded for $1.54, while the euro went for $1.12.