LONDON – European stock markets were in retreat in mid-morning trading on Friday, with the exception of the FTSE 100 in London, which edged up 0.1 percent to 7,253.37.
The DAX in Frankfurt was down 0.4 percent to 12,603.47, followed by the CAC 40 in Paris, 0.2 percent to 5,363.07, and the FTSE MIB in Milan, 0.1 percent to 21,147.83.
The euro traded at $1.09, while the pound fetched $1.29 at 11:50 a.m. CET.
Retail and luxury stocks were mostly in retreat, with the exceptions of Marks and Spencer, which climbed 5.6 percent to 3.78 pounds following the announcement of a new non-executive chairman, Archie Norman.
The longtime retailer will join in September, succeeding Robert Swannell, who will retire from the board. Norman helped to transform a series of British businesses including Kingfisher, Asda and Energis. Last year, he was named lead non-executive board member of Britain’s Department for Business, Energy and Industrial Strategy. His appointment follows that of a new managing director for the clothing, home and beauty division, Jill McDonald.
Among the stocks that fell the most were Moncler, 2.6 percent to 22.89 euros. On Thursday, the company reported that first-quarter revenues climbed 16 percent to 276.2 million euros, with sales sales outside Italy growing 18 percent and those in Italy advancing 7 percent.
Mulberry Group declined 2.3 percent to 10.98 pounds, and Britain’s Bonmarché Group, 2.6 percent to 1.05 pounds.