LONDON — European stock markets were down in mid-morning trading on Thursday, with the Dax in Frankfurt leading the way.
The German market retreated 1.6 percent to 9,790.38, followed by the FTSE 100 in London, 1.5 percent to 6,072.84; the CAC 40 in Paris, 0.9 percent to 4,279.47, and the FTSE MIB in Milan, 0.8 percent to 1,7579.66.
The euro traded at $1.12, while the pound fetched $1.45, the Swiss franc equaled $1.01 and the Swedish krona changed hands for $0.12, at 11:30 a.m. CET.
Retail and luxury stocks were also down, with the morning’s biggest decliners including Hennes & Mauritz, 3.2 percent to 256 Swedish kronor. Earlier this week, the Swedish retailer experienced a drop in sales due to chilly weather in Europe. Ted Baker fell 2.3 percent to 23.67 pounds, while Burberry dipped 2 percent to 10.90 pounds.
Among the very few gainers in mid-morning trading were Zalando, 1.2 percent to 27.78 euros, and Boohoo.com, 0.5 percent to 0.50 pounds.