LONDON – Europe’s major markets were in retreat in morning trading on Thursday, with the exception of the DAX in Frankfurt, which edged up 0.1 percent to 12,216.94.

The FTSE MIB in Milan fell 0.2 percent to 20,238.24, while the FTSE 100 in London and the CAC 40 in Paris each dipped 0.1 percent to 7,364.26 and to 5,066.74, respectively.

The euro traded at $1.08, while the pound fetched $1.24 and the Swedish krona equaled $0.11 at 12:15 a.m. CET.

Retail and luxury stocks were uneven, with the morning’s biggest fallers including Hennes & Mauritz, which was down 6.5 percent to 221.70 Swedish krona after the company announced that net profit in the first quarter dropped 3 percent, negatively affected by lower sales growth and higher mark-downs. It also announced the launch of yet another standalone brand Arket, which it described as “a broad yet selected range of essentials for men, women and children, as well as a smaller, curated assortment for the home.”

Other fallers included Mulberry Group, 3.4 percent to 10.38 pounds; Joules Group, 1.2 percent to 2.38 pounds, and Next, 1.2 percent to 42.67 pounds.

The morning’s risers included, 2 percent to 1.69 pounds; Italia Independent Group, 2.4 percent to 4.49 euros; Metro AG, 1.9 percent to 30.04 euros, and, 4.4 percent to 0.51 pounds.

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