LONDON — European stock markets were down in midmorning trading on Friday, shrugging off gains made earlier this week following the U.S. Federal Reserve’s decision to raise interest rates.
The CAC 40 in Paris was down 0.8 percent to 4,642.11, followed by the DAX in Frankfurt, 0.6 percent to 10,677.61 and the FTSE 100 in London, 0.5 percent to 6,071.94. The FTSE MIB in Milan fell 0.3 percent to 21,454.72.
The euro traded at $1.08, while the pound fetched $1.49 and the Swiss franc equaled $1.00 at 12:00 p.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including LVMH Moët Hennessy Louis Vuitton, 2.1 percent to 145.80 euros; Hermès International, 2 percent to 312.75 euros; French Connection Group, 2.4 percent to 0.36 pounds, and Yoox Net-a-porter Group, 2.1 percent to 32.36 euros.
Among the few stocks that gained ground were Gemfields, 3.3 percent to 0.39 pounds; Ted Baker, 1.2 percent to 32.81 pounds, and Boohoo.com, 1.8 percent to 0.34 pounds.