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European Stock Markets Dip

The FTSE MIB in Milan bucked the trend and advanced 0.5 percent in morning trading.

LONDON — European stock markets were down in mid-morning trading on Wednesday, with the exception of the FTSE MIB in Milan, which advanced 0.5 percent to 20,809.55.

The FTSE 100 in London was down 0.5 percent to 6,707.93, while the DAX in Frankfurt sank 0.1 percent to 9,766.35, and the CAC 40 in Paris 0.03 percent to 4,341.15.

The euro traded at $1.36 against the dollar, while the pound fetched $1.71, and the Swiss franc $1.12 at 11:00 a.m. CET.

Retail and luxury stocks were mostly down, with a few exceptions including Unilever, up 2.5 percent to 31.77 euros, and Gemfields, 1.4 percent to 0.50 pounds.

Among the stocks that lost the most ground in mid-morning were Italia Independent, 2.1 percent to 32 euros; Next, 2.8 percent to 63.15 pounds; French Connection, 2.5 percent to 0.66 pounds; Marks & Spencer Group, 2 percent to 4.19 pounds; and Swatch Group, 1.7 percent to 93.75 Swiss francs.