LONDON — European stock markets were in retreat in midmorning trading on Friday, with the FTSE MIB in Milan leading the way.
The Italian market was down 1.8 percent to 16,260.58, followed by the FTSE 100 in London, 0.6 percent to 6753.48; and the CAC 40 in Paris, 0.4 percent to 4,508.45. The DAX in Frankfurt dipped 0.1 percent to 10,671.06.
The euro traded at $1.07, while the pound fetched $1.24 and the Swiss franc equaled $0.99 at 11:45 a.m. CET.
Retail and luxury stocks also lost ground, with the morning’s biggest fallers including Geox, 1.2 percent to 1.88 euros. Metro and Marks and Spencer Group were both down 1.1 percent to 27.90 euros and to 3.34 pounds, respectively, while Italia Independent Group fell 2.1 percent to 3.20 euros.
Among the few stocks that gained ground was Jimmy Choo, which rose 3.9 percent to 1.34 pounds after the company issued a bullish trading update for the second half, noting a growing business in China.
Other stocks on the rise included Ted Baker, 2.5 percent to 25.74 pounds; Gemfields, 2.6 percent to 0.50 pounds, and Koovs.com, 6.2 percent to 0.56 pounds.