LONDON — Europe’s stock markets were all down Tuesday morning.
The FTSE MIB in Milan was the biggest faller, slipping 1 percent to 18,944.15, followed by the CAC 40 in Paris, down 0.5 percent to 4,059.28.

The FTSE 100 in London and the DAX in Frankfurt both fell 0.3 percent, to 6,348.02 and to 8,784.79 respectively.
Burberry was the biggest faller on London’s FTSE 100, losing 4.6 percent to 14.11 pounds, after the firm said in its first half trading update Tuesday that while its revenues grew 6.7 percent to 1.1 billion pounds, or $1.85 billion during the period, its chief creative and chief executive officer Christopher Bailey warned of a “more difficult external environment” ahead.
Mulberry, which lists on London’s AIM market, tumbled 17 percent to 6.22 pounds, after the British luxury firm reported its revenues for the six months to Sept. 30 fell 17 percent to 64.7 million pounds, or $104.8 million. It also warned that its full-year pre-tax profit would be significantly below expectations.

Other stocks that lost ground included Luxottica, 4.3 percent to 35.69 euros; Ferragamo, 3.9 percent to 18.83 euros; and Aeffe, 2 percent to 1.86 euros.

Risers numbered Gemfields, 1.8 percent to 0.54 pounds; Debenhams, 1.4 percent to 0.58 pounds; and Yoox Group, 1.2 percent to 15.67 euros. climbed 2.9 percent to 0.44 pounds after the online retailer reported revenues in the six months to Aug. 31 rose 31 percent to 67.2 million pounds, or $112.9 million,  while its pre-tax profit rose 23 percent to 4.5 million pounds, or $7.6 million, at average exchange rates for the period. Analyst Kate Calvert at Investec said the firm “looks well-placed to meet full year numbers.”
At 11:25 a.m. CET, the pound traded for $1.61, while the euro changed hands for $1.27.


Click Here for the WWD Global Stock Tracker >>

load comments
blog comments powered by Disqus