LONDON — European stock markets were mostly down in morning trading on Wednesday.

The FTSE MIB in Milan declined 0.8 percent to 1,6587.09, followed by the DAX in Frankfurt, which fell 0.2 percent to 9945.61. The FTSE 100 in London retreated 0.1 percent to 6,677.31, while CAC 40 in Paris was up 0.1 percent to 4,336.62.

The euro traded at $1.10, while the pound fetched $1.31 and the Swiss franc equaled $1.01 at 10:30 a.m. CET.

Retail and luxury stocks were uneven, with the morning’s biggest fallers including Koovs, which was down 4 percent to 0.53 pounds. Yoox Net-a-porter declined 2 percent to 23.36 euros, and Hugo Boss retreated 1 percent to 49.30 euros.

Among the stocks that gained ground was Burberry, which rose 5 percent to 12.65 pounds. Earlier this week, the company announced the appointments of Christopher Bailey as president, Marco Gobbetti as chief executive officer and Julie Brown as chief operating and financial officer, a new dual role. The company also reported that its first-quarter retail revenue gained 4 percent to 423 million pounds, although sales remained flat on an underlying basis.

RELATED STORY: Burberry Posts 4% Uplift in Retail Revenue in Q1 >>

Also on Wednesday morning, Tesco advanced 2.9 percent to 1.71 pounds and Koovs, 2.3 percent to 0.33 pounds.

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