LONDON — European stock markets were in retreat in mid-morning trading today, with the FTSE MIB in Milan leading the downward slide.

 

The Italian market dipped 1.5 percent to 14,641.55, followed by the CAC 40 in Paris, which fell 1.1 percent to 3,234.67.

 

The DAX in Frankfurt was down 0.9 percent to 6,682.00, while the FTSE 100 in London sank 0.5 percent to 5,685.04.

 

The euro traded at $1.31 while the pound traded at $1.59 at noon CET.

 

Retail and luxury stocks were mostly down. Among the stocks that lost the most ground were Yoox, which fell 1.5 percent to 11.18 euros; Mulberry Group, which sank 2.2 percent to 22.01 pounds; Inditex, which slipped 2 percent to 69.38 euros; and Burberry Group, which retreated 1 percent to 15.69 pounds.

 

The losses came amid news that China’s gross domestic product increased by 8.1 percent in the first quarter, compared to an 8.9 percent increase in the final quarter of last year.

 

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