LONDON — European stock markets saw their losses widen on Tuesday morning amid continued uncertainty around Britain’s vote to leave the European Union and who the new prime minister might be.
This week, the Conservatives will narrow their list down to two candidates, and then ask party members across the country to make their pick, with the winner set to be in place by early September. The candidates have different ideas of what Britain’s break from the European Union might look like, and divergent views on immigration and the shape of future trade agreements.
The CAC 40 in Paris led the retreat, falling 1.5 percent to 4,170.68, followed by the DAX in Frankfurt, 1.4 percent to 9,570.32, and the FTSE MIB in Milan, 1 percent to 15,850.02. The FTSE 100 in London was down 0.2 percent to 6,509.16.
The euro traded at $1.11, while the pound fetched $1.33 and the Swiss franc equaled $1.03 at 11:35 a.m. CET.
Retail and luxury stocks were down, with very few exceptions. The biggest fallers included Yoox Net-a-porter Group, 4.4 percent to 20.67 euros; Britain’s Bonmarché Holdings, 5.5 percent to 1.10 pounds; Zalando, 3.2 percent to 23.97 euros; Ted Baker, 3.3 percent to 22.20 pounds; Hugo Boss, 4 percent to 46.86 euros; Geox, 3.9 percent to 2.62 euros, and Koovs.com, 2 percent to 0.49 pounds.
Among the very few stocks to gain ground was Italia Independent Group, 3.8 percent to 6.60 euros.