LONDON — Europe’s major markets were in retreat in mid-morning trading on Thursday, with the FTSE MIB in Milan leading the way.
The Italian market fell 0.9 percent to 22,162.06, followed by the DAX in Frankfurt, 0.7 percent to 12,949.57, and the CAC 40 in Paris, 0.6 percent to 5,353.83. The FTSE 100 in London was down 0.5 percent to 7,501.83.
The euro traded at $1.18, while the pound fetched $1.32 at 10:25 a.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Zalando, 1.3 percent to 42 euros; Italia Independent Group, 2.2 percent to 4.98 euros, and Hugo Boss, 1.7 percent to 75 euros.
Asos.com declined 1.4 percent to 54.14 pounds; Adidas, 1.1 percent to 188.50 euros, and Unilever, 3.7 percent to 50.21 euros, after the company saw third-quarter turnover dip 1.6 percent due to currency headwinds and lower price growth.
Among the very few stocks to gain ground were Aeffe, 5 percent to 2.28 euros; Carrefour, 1.3 percent to 17.34 euros; Gemfields, 2 percent to 0.32 pounds, and Joules Group, 1.2 percent to 2.95 pounds.