LONDON — Europe’s stock markets lost ground in midmorning trading on Friday, with the FTSE 100 in London leading the downturn.
The British market dipped 0.7 percent to 6,338.16, followed by the FTSE MIB in Milan and the DAX in Frankfurt, which both fell 0.5 percent to 18,646.00 and to 10,388.74, respectively. The CAC 40 in Paris retreated 0.2 percent to 4,573.63.
The euro traded at $1.13, while the pound fetched $1.43 and the Swiss franc equaled $1.03 at 10:50 a.m. CET.
Retail and luxury stocks were also in retreat. The morning’s biggest fallers included Kering, which was down 4.2 percent to 153.45 euros, after the company’s first-quarter growth fell short of analysts’ expectations. Group sales were up 2.7 percent on a reported basis and 4 percent on an underlying one in the three-month period.
Yoox Net-a-porter Group was also down, 2.1 percent to 26.65 euros; while Hugo Boss dipped 4 percent to 56.24 euros, and French Connection, 5.9 percent to 0.40 pounds. Swatch Group also fell 1.7 percent to 64.50 Swiss francs.
Among the few stocks that gained substantial ground were Geox, 1.8 percent to 2.86 euros; Gemfields, 1.2 percent to 0.43 pounds; Tesco, 1.9 percent to 1.89 pounds, and J. Sainsbury, 1.6 percent to 2.93 pounds.