LONDON — European stock markets edged down in mid-morning trading on Wednesday, with Milan’s FTSE MIB leading the way.


The Italian market dipped 0.4 percent to 22,052.63, followed by the CAC 40 in Paris, 0.2 percent to 4,878.68. The FTSE 100 and the DAX in Frankfurt were both down 0.1 percent to 6,944.50 and to 11,192.29, respectively.


The euro traded at $1.13, while the pound fetched $1.54 and the Swiss franc equaled $1.05 at 10:50 a.m. CET.


Retail and luxury stocks were uneven, with the morning’s biggest gainers including Pandora, 1.5 percent to 601 Danish kroner; Tesco, 1.6 percent to 2.42 pounds; Gemfields, 2.7 percent to 0.48 pounds; Aeffe, 5.4 percent to 2.30 euros, and Hermès International, 1.2 percent to 287 euros.


Among the stocks that lost the most ground were Metro, 2.3 percent to 28.75 euros; Moncler, 1.1 percent to 13.09 euros; Carrefour, 1.6 percent to 29.01 euros, and, 5 percent to 0.23 pounds.

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