LONDON — After four straight days of gains, and ahead of a U.S. retail report that is expected to show a drop in sales, Europe’s markets were losing ground during mid-morning trading on Friday.
The FTSE MIB in Milan fell the furthest, down 1.1 percent to 15,852.40, followed by Frankfurt’s DAX, which dipped 0.9 percent to 7,802.19. Paris’ CAC 40 slid 0.4 percent to 3,754.70 and London’s FTSE 100 lost 0.4 percent to 6,839.35.
The pound was trading at $1.54 against the dollar, while the euro was getting $1.31 at 11.08 a.m. CET.
Retail and luxury stocks were mostly down. Among those declining the most were Marks & Spencer, down 1.9 percent to 3.93 pounds after posting its strongest quarterly report in two years on Thursday; LVMH Moet Hennessy Louis Vuitton, 1.3 percent to 131.25 euros; and Kering (formerly PPR), 0.9 percent to 169.05 euros.
Mulberry went against the grain, rising 1.4 percent to 9.59 pounds.