LONDON — Europe’s major markets were in retreat in mid-morning trading on Wednesday, with retail and luxury shares also falling.
The FTSE 100 in London, CAC 40 in Paris and FTSE MIB in Milan were all down 0.3 percent to 7,229.33, 5,288.20 and 20,665.25, respectively. The DAX in Frankfurt dipped 0.2 percent to 12,479.50.
The euro traded at $1.09, while the pound fetched $1.29 at 11:05 a.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Marks & Spencer Group, 1.2 percent to 3.67 pounds after the company announced that Jill McDonald, currently chief executive officer at Halfords, the British cycling and motoring retailer, would become managing director of the clothing, home and beauty division.
The md role is a new one and will encompass design and sourcing, supply chain and logistics. McDonald will report directly to M&S ceo Steve Rowe. She will also assume Rowe’s oversight of the clothing, home and beauty division, and take on the related supply chain and logistics responsibilities from chief financial officer Helen Weir.
McDonald’s appointment comes a few months after Christos Angelides was named ceo of the British high-street retailer Reiss. Angelides, a veteran of Next and Abercrombie & Fitch, had been widely tipped to take on a major position within the M&S clothing, beauty and home division.
Among the other fallers was Hugo Boss, 5.2 percent to 65.45 euros after the company saw first-quarter net profit rise 25 percent to 48 million euros. Hugo Boss’ own retail was lackluster in the period, with first-quarter turnover flat in reported terms.
Sainsbury was down 2.4 percent to 2.73 pounds; Ted Baker, 2 percent to 27.53 pounds, and Salvatore Ferragamo, 1.2 percent to 28.89 euros.