LONDON — European stock markets lost ground in midmorning trading on Monday, with the FTSE MIB in Milan leading the way.

The Italian market was down 0.9 percent to 17,177.45, followed by the CAC 40 in Paris and the FTSE 100 in London, 0.5 percent to 4,525.09 and to 6,964.82 respectively. The DAX in Frankfurt slipped 0.3 percent to 10,661.61.

The euro traded at $1.10, while the pound fetched $1.22, and the Swiss franc equaled $1.01 at 10:30 a.m. CET.

Retail and luxury stocks were mostly down, with the exception of Zalando, 1.1 percent to 39.83 euros; French Connection Group, 2.9 percent to 0.36 pounds, and Aeffe, 0.9 percent to 1.07 euros.

Among the stocks that lost the most ground were Joules, 1.6 percent to 1.91 pounds; Primark parent Associated British Foods, 1.6 percent to 24.67 pounds; Next, 2.8 percent to 48.35 pounds; Marks & Spencer Group, 2.1 percent to 3.4 pounds, and Koovs.com, 3.3 percent to 0.62 pounds.

Click Here for the WWD Global Stock Tracker >>