LONDON — Europe’s stock markets were all on the upswing Monday morning, while Asian stocks had an uneven close after having made gains earlier in the day.
The FTSE 100 in London rose 0.7 percent to 6,087.70, followed by the FTSE MIB in Milan and the CAC 40 in Paris, which both gained 0.6 percent, to 21,608.16 and to 4,549.54 respectively. The DAX in Frankfurt was up 0.5 percent to 10,091.42.
The Shanghai Composite Index closed down 2.5 percent to 3,080.42, while Hong Kong’s Hang Seng Index finished down 1.2 percent to 20,583.52. The Nikkei 225 in Japan had edged up 0.4 percent to 21,608.16.
The falls in Asia came as investors digested China’s downward revision of its 2014 GDP figures along with Wall Street’s slump on Friday.
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On Monday, China’s National Bureau of Statistics lowered the country’s 2014 GDP to 7.3 percent from 7.4 percent.
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U.S. stocks fell sharply Friday as investors digested a mixed jobs report and the possibility that the Federal Reserve might hike interest rates.
The declines occurred even though the non-farm payroll report was considered a strong one. Employment increased by 173,000, although most estimates were for 217,000. June and July were both revised higher.
U.S. stock markets are closed Monday for the Labor Day holiday.
In Europe, it was a largely positive morning for fashion, luxury and retail stocks.
Among the risers were Boohoo.com, 6.7 percent to 0.33 pounds; Salvatore Ferragamo, 2.9 percent to 23.17 euros; Burberry, 1.8 percent to 13.67 pounds; and Prada, 1.9 percent to 30.05 Hong Kong dollars.
Fallers included Tesco, which edged down 0.6 percent to 1.85 pounds, on the news that it has agreed to sell its South Korean business Homeplus to a group of investors led by MBK Partners, in a deal that values the business at 4.24 billion pounds, or $6.43 billion.
Also down was Associated British Foods, 2.4 percent to 30.65 pounds, as the parent company of Primark issued a trading update Monday noting that the fall in operating profit in its sugar business, along with the effect of a strong pound, has had an adverse impact of 30 million pounds, or $45.4 million, which will be reflected in the group’s adjusted operating profit for the year to Sept. 12.
In contrast, sales at Primark, ABF’s fast fashion retailer, are expected to gain 13 percent on the previous year at constant exchange rates, 8 percent at actual exchange rates. ABF is set to report its full-year results Nov. 3.
Other fallers numbered Gemfields, 2 percent to 0.62 pounds; MySale Group, 1.8 percent to 0.54 pounds; and French Connection, 11.4 percent to 0.31 pounds.
At 11:30 a.m. CET, the euro traded for $1.11, while the pound went for $1.52 and the Hong Kong dollar for $0.13.