LONDON — European stock markets were uneven in mid-morning trading on Friday, while retail and luxury stocks lost ground in what has been a volatile week.
The FTSE 100 in London, which hit a 2016 high earlier this week as the pound continues to plummet, was up 0.6 percent to 7,044.87 while the FTSE MIB in Milan climbed 0.4 percent to 16,555.01.
The CAC 40 in Paris and the DAX in Frankfurt were both down 0.2 percent to 4472.84 and to 10,552.07, respectively.
The euro traded at $1.12, while the pound fetched $1.27, and the Swiss franc equaled $1.02 at 10:45 a.m. CET.
Early Friday, HSBC said in a flash report that it expects the pound to slide further against the dollar in the coming year, hitting $1.20 by year-end, and falling to $1.10 by the end of 2017, when the euro and the pound will be at parity.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Marks & Spencer, 2.6 percent to 3.22 pounds; Zalando, 4 percent to 36.97 euros, and Koovs.com, 2 percent to 0.72 pounds.
Among the stocks that gained the most ground in mid-morning were Mulberry Group, 3.4 percent to 10.98 pounds; Burberry, 2 percent to 14.53 pounds; Italia Independent, 3.1 percent to 3.78 euros, and Yoox Net-a-porter Group, 1.1 percent to 28.56 euros.