LONDON — European stock markets were down in midmorning trading on Wednesday after oil prices dropped for a third day.
The FTSE MIB in Milan declined 2 percent to 1,7558.87, followed by the DAX in Frankfurt, which fell 1.4 percent to 9,446.49. The FTSE 100 in London and the CAC 40 in Paris each retreated 1 percent to 5,864.96 and to 4242.43, respectively.
The euro traded at $1.09, while the pound fetched $1.44 and the Swiss franc equaled $0.99 at 11:30 a.m. CET.
Retail and luxury stocks were mostly in decline, with the morning’s biggest fallers including Mulberry Group and MySale Group, each down 2.5 percent to 9.54 pounds and to 0.46 pounds, respectively. Bonmarché Holdings fell 2 percent to 2 pounds.
Among the morning’s biggest risers was LVMH Moët Hennessy Louis Vuitton, up 6 percent to 154.15 euros, after the company released figures on Tuesday night, including a fourth-quarter sales gain of 12 percent.
Meanwhile, Kering advanced 1.4 percent to 155.40 euros, and Hugo Boss, 1 percent to 71 euros.