LONDON — Europe’s markets were largely down Thursday morning.
The FTSE MIB in Milan fell 0.6 percent to 23,639.46, followed by the DAX in Frankfurt, down 0.5 percent to 11,793.13. The CAC 40 in Paris dipped 0.3 percent to 5,119.03, while the FTSE 100 in London edged up 0.1 percent to 7,014.86.
The falls came on the back of some weak data from Europe and China. According to the Markit flash Eurozone purchasing managers’ index, released Wednesday, the Eurozone economy “lost momentum” in May, for the second consecutive month. The area’s PMI figure stood at 53.4 in May, down from 53.9 in April.
And the HSBC flash China manufacturing Output Index, also released Wednesday, stated that the country’s manufacturing output declined in May, with the index standing at 48.4, down from 50 in April. HSBC said it was the “strongest” rate of output contraction in China in just over a year.
Fashion, luxury and retail stocks had an uneven start.
Fallers included Koovs, 2 percent to 0.74 pounds; Asos, 2 percent to 37.16 pounds; and Kering, 2.1 percent to 165.70 euros. Burberry was down 1.3 percent to 16.95 pounds after cautioning on its profits for the current financial year in its full year results Wednesday.
The few risers numbered Gemfields, 2.3 percent to 0.62 pounds; Italia Independent, 1.1 percent to 36.00 euros; and Esprit Holdings, 1.6 percent to 6.83 Hong Kong dollars.
At 11:16 a.m. CET, the pound went for $1.56, while the euro traded for $1.12 and the Hong Kong dollar for $0.13.