LONDON — Worries about a hard landing in China sent Europe’s stock markets down in midmorning trading, with the exception of the FTSE MIB in Milan, which was up 0.3 percent to 22,655.00.

The DAX in Frankfurt was flat at 11,320.66, while the FTSE 100 was down 0.3 percent to 6,371.71, and the CAC 40 in Paris fell 0.1 percent to 4,940.36.

The euro traded at $1.06, while the pound fetched $1.51, and the Swiss franc equaled $0.98 at 11:20 a.m. CET.

Retail and luxury stocks were uneven, with the morning’s biggest fallers including Koovs.com, 4.1 percent to 0.29 pounds; French Connection Group, 5.8 percent to 0.30 pounds; and MySale Group, 3.4 percent to 0.50 pounds.

Among the stocks that rose the most were Yoox Net-a-Porter Group, 1.3 percent to 31.15 euros; Britain’s Bonmarché Holdings, 4.4 percent to 3.00 pounds; and Mulberry Group, 0.9 percent to 9.15 pounds.

The decline in Europe’s markets followed a fall in Chinese stocks after market authorities placed several brokerage firms under investigation for allegedly violating securities regulations.

In addition, Chinese industrial profits fell 4.6 percent year-on-year in the month of October, fueling fears of a hard landing in the region where retailers and luxury goods firms are already suffering from a downturn in consumption.

Click Here for the WWD Global Stock Tracker >>

load comments
blog comments powered by Disqus