By  on September 12, 2013

LONDON — European stock markets edged down in mid-morning trading on Thursday, with the FTSE MIB in Milan leading the way.

The Italian market was down 0.7 percent to 17,439.09; followed by the CAC 40 in Paris, 0.3 percent to 4,108.75; the DAX in Frankfurt, 0.1 percent to 8,490.89; and the FTSE 100 in London, 0.02 percent to 6,586.87.

The euro traded at $1.33 against the dollar, while the pound fetched $1.58, and the Swiss franc equaled $1.07 at 11:00 a.m. CET.

Retail and luxury stocks were mostly down, with the exception of Carrefour SA, which advanced 1.2 percent to 25.45 euros, and Metro AG, up 1.1 percent to 29.53 euros.

Among the stocks that lost the most ground was Compagnie Financière Richemont, which reported a 4 percent sales rise in the first five months, and a slowdown in demand in Mainland China.

That stock slipped 2.8 percent to 90.80 Swiss francs, while Ferragamo edged down 1 percent to 25.60 euros, and Burberry retreated 1.2 percent to 16.21 pounds.

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