LONDON — European stock markets were uneven in mid-morning trading ahead of the European Central Bank’s decision on interest rates later today.
The FTSE MIB in Milan, the CAC 40 in Paris and the DAX in Frankfurt were broadly flat at 16,769.12, 4,380.32 and 10,146.50, respectively. The FTSE 100 in London was down 0.3 percent to 6,712.84.
The euro traded at $1.10, while the pound fetched $1.31 and the Swiss franc equaled $1.01 at 10:20 a.m. CET.
Retail and luxury stocks also seesawed, with the morning’s biggest gainers including Swatch Group, up 3.7 percent to 53.10 Swiss francs, despite double-digit drops in sales and profits in the first half.
The Swiss watchmaker said sales should pick up in the second half.
Shares in Hermès climbed 3 percent to 364.85 euros after the company reported a 6.2 percent rise in second quarter sales. Koovs.com was up 1.5 percent to 0.57 pounds; Burberry, 1.8 percent to 13.15 pounds, and online flash sales site MySale Group, 11.5 percent to 0.77 pounds.
Among the stocks that lost the most ground were Jimmy Choo, down 1.7 percent to 1.04 pounds; Italia Independent Group, 1.8 percent to 6.19 euros, and Next, 1.1 percent to 49.82 pounds.