LONDON — European stock markets were down during midmorning trading on Wednesday as oil prices dipped.
The DAX in Frankfurt declined 1.9 percent to 9245.48, followed by the FTSE MIB in Milan, 1.5 percent to 16899.88. The CAC 40 in Paris retreated 1.4 percent to 4177.11, and the FTSE 100 in London fell 1.3 percent to 5885.78.
The euro traded at $1.10, while the pound fetched $1.40 and the Swiss franc equaled $1 at 10:27 a.m. CET.
Retail and luxury stocks were mostly in decline, with the biggest fallers including Hugo Boss, 11.5 percent to 51.08 euros. The German company on Tuesday had said it is bringing prices in Asia down closer to levels in Europe and the Americas after explaining sales in the U.S. and China so far this year have been softer than expected.
Among the stocks that gained the most ground were Mulberry Group, 0.6 percent to 9.54 pounds; and Gemfields, 2.2 percent to 0.46 pounds.