LONDON — Europe’s markets all lost ground in trading Tuesday morning.
The DAX in Frankfurt dipped 0.7 percent to 11,734.96, followed by the FTSE 100 in London, down 0.6 percent to 6,988.28. The CAC 40 in Paris fell 0.5 percent to 5,089.52, and the FTSE MIB in Milan lost 0.1 percent to 23,256.68.
Reuters noted that a number of issues were weighing on investors in the first day of trading after public holidays in Germany and the U.K. on Monday. The report pointed to Spanish anti-austerity party Podemos’ success in Spain’s local elections on Sunday – though the ruling People’s Party still commanded the majority of the votes – and doubts over whether Greece will make its latest debt repayment to the International Monetary Fund.
Fashion, luxury and retail stocks were largely down, too.
Among the fallers were Swatch Group, 2.5 percent to 75.50 Swiss francs, and competitor Richemont, 1.8 percent to 84.40 Swiss francs, after Richemont on Friday reported a 35.4 percent fall in its net profit for the 2014-’15 fiscal year, to 1.33 billion euros, or $1.69 billion at average exchange. Also down were Hennes & Mauritz, 1 percent to 337.90 Swedish kronor; Mulberry, 1 percent to 8.99 pounds, and Boohoo.com, 3.9 percent to 0.24 pounds.
Risers numbered Italia Independent, 4.4 percent to 36 euros; Salvatore Ferragamo, 2.8 percent to 28.34 euros, and Tod’s, 1.5 percent to 83.75 euros.
At 11:02 a.m. CET, the pound traded for $1.55, while the euro went for $1.10, the Swiss franc for $1.06, while the Swedish krona changed hands for $0.12.