LONDON —Europe’s major stock markets were down at the close of trading on Wednesday, with the FTSE MIB in Milan leading the way.
The Italian market fell 0.8 percent to 14,381.20, followed by the DAX in Frankfurt, which fell 0.2 percent to 6,564.80.
The FTSE 100 in London and the CAC 40 in Paris were both down 0.1 percent, to 5,684.47 and 3,267.75, respectively.
The euro traded at $1.26 while the pound traded at $1.57.
Retail and luxury stocks put on a mixed show, with the day’s biggest gainers including Geox, which was up 5.3 percent to 1.91 euros; Marcolin, which climbed 1.7 percent to 4.81 euros, and Brunello Cucinelli, which advanced 1.5 percent to 11.38 euros.
Among the stocks that lost ground were Safilo Group, which sank 3.3 percent to 4.48 euros; Metro AG, which was down 3.4 percent to 22.78 euros, and Carrefour, which fell 1.5 percent to 14.22 euros.
According to Markit, the financial information services company, the euro zone service sector continued to shrink in June and business confidence in the region is waning.
Meanwhile, Eurostat, the office of European statistics, reported that retail sales in the euro zone rose by 0.6 percent in May, compared with a 1.4 percent fall in April.
On Thursday, the European Central Bank is expected to slash its benchmark interest rate from 1 percent in a bid to spur economic growth.