LONDON — European stock markets were mostly down in morning trading on Thursday.
The FTSE MIB in Milan declined 0.5 percent to 1,8084.99, followed by the FTSE 100 in London, which fell 0.3 percent to 6,343.59. The CAC 40 in Paris retreated 0.1 percent to 4,484.27, while the DAX in Frankfurt was up 0.2 percent to 10,044.66.
The euro traded at $1.13, while the pound fetched $1.42 and the Swiss franc equaled $1.04 at 10:30 a.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest fallers including Burberry Group, which was down 7.7 percent to 12 pounds after the company released its half-year results. Burberry reported that the declining footfall in Hong Kong and fewer Chinese tourists in Continental Europe dragged sales down 1 percent to 1.41 billion pounds.
Ted Baker and Compagnie Financière Richemont each retreated 2 percent, to 25 pounds and 63.20 Swiss francs, respectively.
Among the stocks that gained ground was Debenhams, up 3.3 percent to 0.79 pounds. The British retailer’s share prices rose as its chief executive officer Michael Sharp confirmed his resignation. The announcement of his departure came after the company reported a 5.5 percent rise in underlying pre-tax profit to 93.8 million pound in the six months to Feb. 27. The performance, Debenhams said, was due to “less discounting, fewer promotions, a decrease in the proportion of clothing in the overall product mix and online service improvements.”
Meanwhile, French Connection Group advanced 2.9 percent to 44 euros and Koovs, 2.3 percent to 0.33 pounds.