LONDON — European stock markets were down in midmorning trading on Monday after a meeting in Doha over the weekend failed to produce a deal on oil output.
The CAC 40 in Paris led the way, sliding 0.4 percent to 4,476.78; followed by the DAX in Frankfurt, 0.3 percent to 10,020.72, and the FTSE 100 in London, 0.2 percent to 6,328.98. The FTSE MIB in Milan was down 0.1 percent to 18,248.88.
OPEC and non-OPEC oil producers could not reach an agreement to scale down oil production, meaning prices will remain low, dragging down costs and inflation rates.
The euro traded at $1.13, while the pound fetched $1.42 and the Swiss franc equaled $1.03 at 11:05 a.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest gainers including Boohoo.com, 4.4 percent to 0.51 pounds; Gemfields, 4.9 percent to 0.43 pounds; Asos.com, 1.5 percent to 38.51 pounds, and Safilo Group, 1.3 percent to 7.74 euros.