LONDON — A terrorist attack that has left 84 people dead in Nice, France dragged Europe’s markets down in midmorning trading on Friday.
Milan’s FTSE MIB led the way, falling 1 percent to 16,624.73, followed by the CAC 40 in Paris, 0.8 percent to 4,350.35. The DAX in Frankfurt was down 0.6 percent to 10,006.11, while the FTSE 100 in London dipped 0.4 percent to 6,629.63.
The euro traded at $1.11, while the pound fetched $1.32 and the Swiss franc equaled $1.02 at 12:55 pm CET.
Retail and luxury stocks also sank following Thursday night’s tragedy, the latest in a string of terrorist attacks in Europe aimed at ordinary citizens in public places.
According to news reports, it was a local, armed man who rammed his truck through a thousands-strong crowd celebrating Bastille Day on the city’s seafront promenade. France’s prime minister Manuel Valls has declared three days of national mourning during what is usually a celebratory long weekend.
Among the morning’s biggest stock market fallers was the Swatch Group, which had issued a profit warning earlier in the day. Shares plummeted 10.1 percent to 51 Swiss francs after the brand said operating and net profits were set to fall in the double digits in the first half of the 2016 fiscal year.
Other fallers included Yoox Net-a-porter Group, 2.9 percent to 23.69 euros; Hugo Boss, 3.4 percent to 48.55 euros; Aeffe, 1.7 percent to 1.03 euros, and Compagnie Financière Richemont, which was down 3.9 percent to 57.65 Swiss francs.
Among the very few stocks to gain ground were Safilo Group, 3.2 percent to 6.72 euros; and Koovs.com, 1.9 percent to 0.55 pounds.