LONDON — European stock markets were mostly in retreat in midmorning trading on Wednesday, while retail and luxury stocks climbed as trading picked up after the long holiday weekend.

The FTSE 100 in London was the only gainer, climbing 0.2 percent to 7,085.15. All other major markets made small losses: The FTSE MIB in Milan fell 0.2 percent to 19,347.54, while the CAC 40 in Paris and the DAX in Frankfurt were both down 0.1 percent, to 4,845.90 and to 11,469.74, respectively.

The euro traded at $1.04, while the pound fetched $1.23, and the Swiss franc equaled $0.97 at 10:15 a.m. CET.

Retail and luxury stocks gained ground, including Mulberry Group which climbed 3.2 percent to 10.95 pounds; Ted Baker which was up 3 percent to 28.29 pounds, and Aeffe which rose 1.9 percent to 1.04 euros., which earlier this month announced the acquisition of one of its competitors, the high street e-tailer PrettyLittleThing, was up 1.9 percent to 1.35 pounds.

Among the stocks that lost ground were French Connection, which was down 2.1 percent to 0.34 pounds; and, which dipped 1.4 percent to 0.45 pounds.

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