LONDON — European stock markets were down in midmorning trading on Wednesday, with the exception of the FTSE MIB in Milan, which was up 0.1 percent to 23,735.40.
The FTSE 100 in London lost the most ground, falling 0.7 percent to 6,719.80, followed by the CAC 40 in Paris, 0.3 percent to 5,092.64, and the DAX in Frankfurt, 0.2 percent to 11,577.08.
The euro traded at $1.09, while the pound fetched $1.56, and the Swiss franc equaled $1.04 at 11:10 a.m. CET.
Retail and luxury stocks put on an uneven performance with the morning’s biggest gainers including Gemfields, 3.9 percent to 0.61 pounds; Unilever, 2.7 percent to 41.59 euros; Yoox Group, 1.1 percent to 30.25 euros, and Boohoo.com, 1.2 percent to 0.29 pounds.
Among the stocks that lost the most ground were online flash sales site MySale Group, which sank 7.5 percent to 0.42 pounds; and Swatch Group, 0.8 percent to 77.45 Swiss francs following news that Swiss watch exports bounced back in June.