LONDON Europe’s major stock markets wiped out gains made earlier in the day, edging downward at the close of trading Thursday.

 

Milan’s FTSE MIB was the only stock market on the rise: It closed up 0.03 percent to 13,920.58 as the country’s new prime minister Mario Monti met with his French and German counterparts to discuss the prospect of a euro-wide bond and improving governance in the euro zone.

The DAX in Frankfurt tumbled 0.5 percent to 5,428.11 while the FTSE 100 fell 0.2 percent to 5,127.57. The CAC 40 in Paris edged down 0.01 percent to 2,822.25.

 

The euro traded at $1.34, while the pound traded at $1.55.

 

Retail and luxury stocks were mixed, with the day’s biggest gainers including Asos.com, which rose 5.5 percent to 12.97 pounds; French Connection, which climbed 5.2 percent to 0.51 pounds; and Italy’s Safilo Group, which advanced 5.7 percent to 4.84 euros.

 

Among the stocks that lost the most on Thursday were Italian eyewear firm Marcolin, which tumbled 3.1 percent to 3.46 euros; Inditex, which fell 1.2 percent to 61.23 euros; and Metro, which fell 1.3 percent to 33.40 euros.

 

On Thursday, German chancellor Angela Merkel, French president Nicholas Sarkozy, and Monti said they were united in their determination to tighten up European governance, and work in a more united way.

 

“We are determined to guarantee and work along the same path to support Europe. All three of us are very conscious of the gravity and seriousness of the situation,” Sarkozy said during a news conference.

 

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