LONDON — European stock markets lost ground in early afternoon trading on Tuesday, with the DAX in Frankfurt and the FTSE MIB in Milan leading the way.
The German and Italian markets were both down 0.3 percent to 12,440.97 and to 20,951.41, respectively, while the CAC 40 in Paris dipped 0.2 percent to 5,182.65. Meanwhile, the FTSE 100 in London declined 0.1 percent to 7,371.00.
The euro traded at $1.14, while the pound fetched $1.30 at 1:15 p.m. CET.
Retail and luxury stocks were mostly down, with the afternoon’s biggest fallers including French Connection, 3.2 percent, 0.38 pounds; Mulberry Group, 3.5 percent to 10.34 pounds; Koovs.com, 10 percent to 0.36 pounds, and Salvatore Ferragamo, 1.1 percent to 23.33 euros.
Among the very few stocks that gained ground was J. Sainsbury, 1 percent to 2.51 pounds.