WWD.com/business-news/financial/european-markets-edge-down-7059943/
government-trade
government-trade

European Markets Edge Down

Retail and luxury stocks put on a mixed show.

LONDON — European stock markets edged down in mid-morning trading on Friday, following a strong close on Thursday.

The CAC 40 in Paris, the DAX in Frankfurt and the FTSE 100 in London were each down 0.5 percent to 3,908.90 points, 8,297.15 and 6,603.27, respectively. Meanwhile, Milan’s FTSE MIB slipped 0.1 percent to 16,034.09.

The euro traded at $1.31 against the dollar, while the pound fetched $1.52, and the Swiss franc equaled $1.06 at 11 a.m. CET.

Retail and luxury stocks put on a mixed show, with the day’s biggest gainers including Brunello Cucinelli, which advanced 1.1 percent after reporting a 16.5 percent uptick in first-half revenue. Yoox.com increased 2.9 percent to 20.01 euros, while Gemfields was up 1.3 percent to 0.20 pounds.

Among the stocks that lost the most ground were Carrefour, down 1.8 percent to 22.82 euros. Mulberry Group declined 3 percent to 9.60 pounds. Swatch Group retreated 1.5 percent to 92.05 Swiss francs, and Kering dipped 1 percent to 170.45 euros.

On Thursday, European stock markets were up at the close of trading, buoyed by a rally in the U.S.