LONDON — European stock markets were down in mid-morning trading on Wednesday, with the DAX in Frankfurt leading the way.

The German market fell 1.7 percent to 9,371, followed by the CAC 40 in Paris, which was down 1.6 percent to 4,096.93. The FTSE MIB in Milan declined 1.5 percent to 15,542.57, while the FTSE 100 in London sank 0.6 percent to 6,505.50.

The euro traded at $1.00, the pound at $1.31, the Swiss franc at $1.02 and the Danish krone at $0.14 at 10:30 a.m. CET.

Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Tesco, 5.6 percent to 1.65 pounds; Pandora, 3 percent to 820 Danish kroner, and, 2.6 percent to 0.54 pounds.

Among the few stocks that gained ground were Koovs, up 4 percent to 0.55 pounds, after the company’s announcement last week that it had closed its latest round of capital funding, which totaled 26.2 million pounds. Also on Wednesday morning, Mulberry was up 1.5 percent to 10.61 pounds and Burberry, 0.9 percent to 11.70 pounds.

Click Here for the WWD Global Stock Tracker >>