PARIS — Most of Europe’s indices experienced a slight drop in mid-morning trading.
With some traders still away on holiday and the U.S. budget impasse slowing down market movements, the FTSE 100 in London edged up 0.1 percent to 5,957.12, while the DAX in Frankfurt dipped 0.1 percent to 7,645.93. The CAC 40 in Paris slipped 0.6 percent to 3,651.42; and the FTSE MIB in Milan was down 0.3 percent to 16,361.00.
Most retail and luxury stocks reflected this trend. Among those in decline were Safilo, down 1.3 percent to 6.61 euros; Metro AG, which fell 1.3 percent to 20.93 euros; and Hennes & Mauritz, down 0.6 percent to 225.5 euros.
The morning’s biggest gainers included Mulberry, which climbed 4 percent to 1,190.00 pounds; and Prada, up 4 percent to 73.15 euros.
The pound was trading at $1.61, while the euro was worth $1.32 and the Swiss franc was valued at $1.09 at 11.15 a.m. CET.