LONDON – Europe’s major markets were in retreat in mid-morning trading on Thursday, with the DAX in Frankfurt leading the slide.
The German market fell 0.4 percent to 12,130.81, followed by the FTSE 100 in London and the CAC 40 in Paris, which were down 0.3 percent to 7,388.91 and to 5,092.96, respectively. The FTSE MIB in Milan was flat at 21,569.11.
The euro traded at $1.18, while the pound fetched $1.32 at 10:45 a.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest gainers including Zalando, 1.8 percent to 39.08 euros, and Yoox Net-a-porter Group, 1.6 percent to 28.05 euros after the company broke through the 1 billion euros sales barrier in the first half.
Italia Independent Group was up 2.2 percent to 5.07 euros, while Next climbed 7.2 percent to 43 pounds after the company’s second-quarter sales rose 0.7 percent, beating market expectations. Mulberry advanced 2.5 percent to 10.97 pounds.
Among the shares that fell the most were Luxottica Group, 1.4 percent to 47.75 euros; Safilo Group, 1.3 percent to 6.45 euros; French Connection Group, 1.8 percent to 0.41 pounds; Beiersdorf, 1.7 percent to 90.47 euros, and Essilor, 1.5 percent to 104.65 euros.