LONDON — Europe’s markets saw both gains and losses Monday morning.
The FTSE 100 in London slipped 0.7 percent to 6,673.97, while the CAC 40 in Paris and the DAX in Frankfurt both edged down 0.1 percent to 5,150.95 and 11,475.96, respectively. The FTSE MIB in Milan was the exception, rising 0.4 percent to 23,794.03.
The markets were muted as reports emerged that Greek officials are hoping that by Tuesday they will have completed negotiations with the country’s European creditors on Greece’s new 86-billion-euro, or $94-billion, bailout deal.
Fashion, luxury and retail stocks also got off to a varied start.
Those that fell included Asos, 2.3 percent to 32.30 pounds; Metro, 2.9 percent to 28.14 euros; Italia Independent, 2.2 percent to 31.24 euros and Tesco, 1.1 percent to 2.13 pounds.
Tesco fell as a Reuters report Monday said the deadline for the latest round of bids to acquire Tesco’s South Korean business had been pushed back from Aug. 17 to Aug. 24 to accommodate a public holiday. Tesco’s South Korean business is estimated to be worth around $6 billion, and the supermarket chain is exploring its sale to focus on its U.K. business, in the wake of deep losses and last year’s accounting scandal, when Tesco overstated its expected profits.
At 11.10 a.m. CET, the euro traded for $1.10, while the pound went for $1.55.