PARIS — European stock markets headed downward in Wednesday morning trading on the back of fresh falls in oil prices and Chinese equities.
The FTSE MIB in Milan and FTSE 100 in London each declined 0.5 percent to 18,353.90 and 6,379.88, respectively. Paris’ CAC 40 and Frankfurt’s DAX each retreated 0.3 percent to 4,550.73 and 10,321.49, respectively.
The euro was trading at $1.14 and the pound at $1.44 at 12 p.m. CET.
Fashion, luxury and retail stocks were largely in negative territory.
The fallers included Debenhams, down 3 percent to 0.79 pounds, a day after Goldman Sachs reiterated a “sell” status for the retailer in a research note. Ted Baker also sank 3 percent to 23.91 pounds after analysts recently updated their price targets on the company’s shares.
Among the few gainers were Geox, up 1.4 percent to 2.85 euros; and Safilo Group, 1.3 percent to 8.06 euros.