LONDON — Most of Europe’s markets lost ground in trading Friday morning.
The CAC 40 in Paris fell 0.2 percent to 5,136.57, while the DAX in Frankfurt and the FTSE MIB in Milan each edged down 0.1 percent, to 11,854.14 and 23,706.71, respectively. Only the FTSE 100 in London was up, rising 0.4 percent to 7,038.12.
It was an uneven start to the day for fashion, luxury and retail stocks.
Fallers included Kering, down 2.7 percent to 161.95 euros; Koovs, 2.7 percent to 0.73 pounds; French Connection, 1.2 percent to 0.45 pounds, and Mulberry, 1.1 percent to 9.09 pounds.
Compagnie Financière Richemont fell 1.3 percent to 85.70 Swiss francs, after the luxury goods group said Friday that its net profit slumped 35.4 percent to 1.33 billion euros, or $1.69 billion, in the 2014-’15 fiscal year. The firm had already warned of the fall in a trading update last month, which it said was largely due to non-cash, currency translation effects linked to its investment strategy for its 5.4 billion euros, or $6 billion, in cash assets, and to its hedging program.
As Richemont fell, so did its competitor Swatch Group, down 1.1 percent to 78 Swiss francs.
Among the risers were Marks & Spencer, up 0.3 percent to 5.95 pounds; Jimmy Choo, 0.6 percent to 1.71 pounds, and Boohoo.com, 0.6 percent to 0.26 pounds.
At 11:30 a.m. CET, the pound traded for $1.56, while the euro went for $1.11 and the Swiss franc changed hands for $1.07.