LONDON — Most of the major indexes in the euro zone were down during mid-morning trading on Wednesday, ahead of a European Union leaders meeting in Brussels today to discuss energy, tax and financing opportunities in the region.
The FTSE 100 in London and Frankfurt’s DAX were both down 0.3 percent, to 6,783.81 and 8,443.75 respectively, while Paris’ CAC 40 dropped 0.4 percent to 4,020.43. The FTSE MIB in Milan inched up 0.1 percent to 17,439. 67.
The euro was trading at $1.31 against the dollar and the pound was worth $1.51 at 11.15 a.m. CET.
Retail and luxury stocks were putting on a mixed show, with the morning’s biggest gainers including Marks & Spencer, up 1.3 percent to 4.74 pounds; Geox, 2.7 percent to 2.18 euros; and Gemfields, 2.1 percent to 0.24 pounds.
Among the stocks losing ground were Burberry, down 3.1 percent to 14.93 pounds after it posted a full-year net profit drop of 3.4 percent to 254.3 million pounds, or $401.8 million; LVMH Moët Hennessy Louis Vuitton, 2 percent to 140.35 euros; and L’Oréal, 1.2 percent to 134.90 euros, after it said that it would part ways with Stella McCartney’s beauty business.