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

The Italian market fell 1.2 percent to 16,697.41, followed by the DAX in Frankfurt, which was down 0.8 percent to 10,440.30. The CAC 40 in Paris declined 0.7 percent to 4,440.1, while the FTSE 100 in London sank 0.4 percent to 6,889.21.

The euro traded at $1.10 and the pound at $1.22, at 10:00 a.m. CET.

Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Jimmy Choo, 3.7 percent to 1.28 pounds; Tesco, 1.6 percent to 2.09 pounds; and Super Group plc, 1 percent to 13.85 pounds.

Among the few stocks that gained ground were Next, up 4 percent to 50 pounds. The high street label cut its yearly sales forecast after a tough third quarter as the company struggled to sell full-price clothing. Associated British Foods fell 2.3 percent to 25.31 pounds, followed by Marks & Spencer Group, 1.3 percent to 3.46 pounds.

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