LONDON – Europe’s major markets were in retreat in morning trading on Monday, with the FTSE 100 and the DAX leading the way.
The British and German markets were both down 0.8 percent to 7,279.70 and to 11,968.64, respectively, followed by the FTSE MIB in Milan, 0.7 percent to 20,054.02. The CAC 40 in Paris dipped 0.4 percent to 5,001.93.
The euro traded at $1.08, while the pound fetched $1.25 and the Swiss franc equaled $1.01 at 12:15 p.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including MySale Group, 2.6 percent to 0.94 pounds; Italia Independent, 4.5 percent to 4.38 euros; Gemfields, 1.5 percent to 0.44 pounds, and Swatch Group, 1.7 percent to 67.95 Swiss francs.
Among the few stocks that gained ground were Marks & Spencer Group, 1.1 percent to 3.36 pounds, and Next, 1.7 percent to 41.98 pounds.