LONDON — European stock markets were down in midmorning trading on Friday, with Milan’s FTSE MIB leading the way.

The Italian market fell 0.7 percent to 17,533.95, followed by the FTSE 100 in London and the CAC 40 in Paris, which were both down 0.6 percent, to 6,065.67 and to 4,268.51 respectively. The DAX in Frankfurt dipped 0.5 percent to 9,814.44.

The euro traded at $1.14, while the pound fetched $1.44 and the Swiss franc equaled $1.03 at 11:45 a.m. CET.

Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Zalando, 2.3 percent to 27.67 euros; Hugo Boss, 1.7 percent to 55.03 euros;, 2.1 percent to 36.13 pounds; French Connection Group, 3.4 percent to 0.36 pounds; Tod’s SpA, 2.1 percent to 54.75 euros, and Adidas, 3.6 percent to 109.30 euros.

Among the few stocks that gained ground were Salvatore Ferragamo, 7.1 percent to 21.09 euros, after the company announced that net profits in the first quarter were up 10.7 percent, despite a slight contraction in revenues.

Fellow Italian fashion firm Yoox Net-a-porter Group was up 5.5 percent to 25.38 euros while Safilo Group edged up 1.1 percent to 6.47 euros.

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