LONDON — European stock markets were down in midmorning trading on Tuesday, with the FTSE MIB in Milan leading the way.
The Italian market retreated 1.7 percent to 18,108.95, followed by the DAX in Frankfurt, 1.6 percent to 9,966.68; the CAC 40 in Paris, 1.2 percent to 4,388.20, and the FTSE 100 in London, 0.6 percent to 6202.44.
The euro traded at $1.15, while the pound fetched $1.46 and the Swiss franc $1.04 at 11:00 a.m. CET.
Retail and luxury stocks were also down, with the morning’s biggest fallers including Yoox Net-a-porter Group, 2.6 percent to 24.40 euros; Safilo Group, 3.4 percent to 7.50 euros; Koovs.com, 4.6 percent to 0.26 pounds, and Compagnie Financière Richemont, 2.6 percent to 62.90 Swiss francs.
Among the very few gainers in midmorning were French Connection Group, 1.3 percent to 0.39 pounds; and MySale Group, 2.1 percent to 0.60 pounds.