LONDON — Europe’s stocks were largely down mid-morning Wednesday.
The DAX in Frankfurt slipped 0.6 percent to 9,032.01, followed by the FTSE 100 in London, which lost 0.4 percent to 6,473.08 and the CAC 40 in Paris, down 0.2 percent to 4,202.27. The FTSE MIB in Milan edged up 0.1 percent to 19,790.25.
Investors were concerned about the International Monetary Fund cutting its forecast for global economic growth. The IMF forecast Tuesday that global growth would be at a rate of 3.3 percent in 2014, down 0.1 percent from its July 2014 forecast, and at 3.8 percent in 2015, down 0.2 percent from its July forecast.
Fashion, luxury and retail stocks were varied in the morning’s trading.
On the rise were Boohoo.com, 0.5 percent to 0.47 pounds and Next, 0.4 percent to 65.90 pounds. Bonmarché Holding, the British retailer that targets women over 50, rose 0.4 percent to 2.70 pounds, as Cantor Fitzgerald Europe reiterated its “Buy” rating on the stock, noting the British high street retailer’s unexpected men’s wear launch, which it called “very competitively priced.”
Fallers included French Connection, 7 percent to 0.48 pounds; The Mysale Group, 4 percent to 1.93 pounds and Ferragamo, 1.3 percent to 20.76 euros.
At 10.20 CET, the pound traded for $1.61, while the euro went for $1.26.