LONDON — European stock markets seesawed in midmorning trading on Wednesday, ahead of a series of key economic indicators set to be announced later today in the U.S.
The DAX in Frankfurt climbed 0.4 percent to 9,970.62, followed by the FTSE MIB in Milan, 0.1 percent to 18,787.03. The CAC 40 in Paris was down 0.1 percent to 4,469.18, while the FTSE 100 in London was flat at 6,137.78.
The euro traded at $1.11, while the pound fetched $1.42. The Swiss franc equaled $1.01 and the Danish krona traded at $0.15 at 11:30 a.m. CET.
Retail and luxury stocks were mostly down, with the morning’s biggest fallers including French Connection Group which saw its 2015-16 revenue dip 8 percent, and its operating losses widen due to the poor reception of its collections in the first half.
Geox fell 1.2 percent to 2.93 euros, while Luxottica Group was down 2.4 percent to 48.76 euros.
Among the few stocks to gain any ground were MySale Group, 1 percent to 0.43 pounds; Gemfields, 1.1 percent to 0.45 pounds, and Danish jeweler Pandora, 1.6 percent to $128.
Later today, the U.S. Federal Reserve is set to issue a policy statement, while the government will issue an update on consumer prices, housing and industrial output.