PARIS — European markets dipped Tuesday morning, following a decline in stocks, oil and the value of China’s yuan.
Frankfurt’s DAX was down 0.7 percent to 9,506.66, followed by the FTSE 100 in London, 0.6 percent to 6,004.80; the FTSE MIB in Milan, 0.4 percent to 17,441.29, and the CAC 40 in Paris, 0.2 percent to 4,288.20.
The euro was trading at $1.10, the pound at $1.41 and the Swiss franc at $1.01 at 11:50 a.m. CET.
Fashion, luxury and retail stocks were mixed. Among the strongest gainers were Aeffe and Asos, both up 2.5 percent to 1.25 euros and 28.38 pounds, respectively. Italia Independent Group rose 2.2 percent to 22.14 euros.
Among the stocks on the decline was Gemfields, down 4.3 percent to 0.45 pounds, after the jeweler on Monday reported that its profit after tax in the first half ended Dec. 31 plunged 64.6 percent and sales dropped 9.1 percent. Tesco retreated 1.9 percent to 1.81 pounds, while Swatch Group dipped 1.8 percent to 66.60 Swiss francs.
Click Here for the WWD Global Stock Tracker >>