By  on April 21, 2017

LONDON – Europe’s stock markets were in retreat in mid-morning trading on Friday, with the exception of the DAX in Frankfurt, which climbed 0.1 percent to 12,038.18.The CAC 40 in Paris led the downturn, falling 0.5 percent to 5052.24 in the wake of a terrorist attack on police on the Avenue des Champs-Élysées Thursday night. One of Paris’ most famous thoroughfares, the street is a tourist and shopping haven, and the attack came just days before the French vote in the first round for their next president.Milan’s FTSE MIB was down 0.3 percent to 19,800.67, followed by the FTSE 100 in London, 0.1 percent to 7113.96.The euro traded at $1.07, while the pound fetched $1.28 and the Swiss franc equaled $1.00 at 10:10 a.m. CET.Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Yoox Net-a-porter Group, 1.6 percent to 23.28 euros; MySale Group, 1.7 percent to 1.06 pounds; Burberry, 1.4 percent to 15.70 pounds; Mulberry Group, 2.7 percent to 10.78 pounds, and Koovs.com, 1.6 percent to 0.46 pounds.Among the few stocks that gained ground was Marks and Spencer Group, 2.4 percent to 3.62 pounds after the company announced the closure on Thursday of six stores, mostly outside of London in areas such as Portsmouth, Slough and Warrington.The company said the 380 staff affected will be guaranteed re-employment in nearby sites. Marks and Spencer also plans to open an additional 36 stores, the majority of which sell food only, a more profitable proposition for the retailer.Click Here for the WWD Global Stock Tracker >>

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