LONDON – European stock markets edged down in mid-morning trading Friday following the European Central Bank’s decision to leave interest rates, and its quantitative easing program, untouched.
The FTSE 100 in London and the FTSE MIB in Milan led the downturn, falling 0.2 percent to 6,843.99 and to 17,338.51 respectively. The CAC 40 in Paris and DAX in Frankfurt were both down 0.1 percent, to 4,537.13 and to 10,667.40 respectively.
The euro traded at $1.13, while the pound fetched $1.33, and the Swiss franc equaled $1.03 at 11:15 a.m. CET.
Retail and luxury stocks were mostly in the doldrums, with the morning’s biggest fallers including Marks & Spencer Group, 1.6 percent to 3.47 pounds; Debenhams, 1.8 percent to 0.63 pounds; and Superdry parent SuperGroup, 1.7 percent to 15.03 pounds.
Among the few stocks to gain ground were Italia Independent Group, 4.1 percent to 5.11 euros; Aeffe, 1.6 percent to 1.04 euros; Mulberry Group, 2 percent to 11.26 pounds; and Koovs.com, 1.5 percent to 0.69 pounds.
On Thursday, ECB president Mario Draghi disappointed markets by keeping the benchmark interest rate at a record low and the bank’s economic stimulus program unchanged, in a sign of confidence in Europe’s economy.