LONDON — European stock markets were down in mid-morning trading on Thursday, with the DAX in Frankfurt leading the way.
The German market sank 1 percent to 11,743.74, followed by the CAC 40 in Paris, 0.8 percent to 5,168.86, and the FTSE MIB in Milan, 0.7 percent to 23,163.83.
The FTSE 100 in London was the only market to gain ground, inching up 0.1 percent to 7,031.99.
The euro traded at $1.07, while the pound fetched $1.50 and the Swiss franc equaled $1.04 at 11:30 am CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Koovs.com, 2.6 percent to 0.74 pounds; Salvatore Ferragamo, 3.6 percent to 28.86 euros; Aeffe, 4.1 percent to 2.43 euros, and Hugo Boss, 1.4 percent to 112.39.
Among the few stocks that gained ground were MySale.com, 1.3 percent to 0.57 pounds; Tesco, 1.1 percent to 2.25 pounds, after reporting the worst results in its history earlier this week, and J. Sainsbury, 1.3 percent to 2.66 pounds.