LONDON — Europe’s stock markets were largely down in trading mid-morning Wednesday.
The CAC 40 in Paris fell 0.4 percent to 4,822.38, while the DAX in Frankfurt was down 0.3 percent to 11,011.88 and the FTSE 100 in London edged down 0.1 percent to 6,704.70. Only the FTSE MIB in Milan was up, rising 0.4 percent to 22,473.19.
Investors are said to be holding back ahead of the U.S. Federal Reserve’s meeting later today, when the central bank is set to release its policy statement – which includes the country’s interest rates – and its quarterly economic forecast.
Concerns over Greece’s debt situation also continue to worry the markets, as the country will default if it doesn’t pay a 1.6 billion euro, or $1.8 billion, debt to the International Monetary Fund by the end of June.
Fashion, luxury and retail stocks were in mostly negative territory, too.
Fallers included Jimmy Choo, 2.3 percent to 1.53 pounds; Italia Independent, 1.1 percent to 32.00 euros; Kering, 1 percent to 153.90 euros; and Tod’s, 1.4 percent to 84.90 euros.
The few stocks in the sector that rose included Gemfields, 0.6 percent to 0.68 pounds; Boohoo.com, 2.8 percent to 0.28 pounds; and French Connection, 0.1 percent to 0.44 pounds.
At 11:04 a.m. CET, the pound traded for $1.56, while the euro went for $1.13.