LONDON – European markets, and fashion and luxury stocks, were uneven in mid-morning trading on Wednesday.
The FTSE 100 in London was broadly flat at 7,183.25, while the DAX in Frankfurt and the FTSE MIB in Milan were both up 0.1 percent to 11,563.88 and to 18,674.07, respectively. The CAC 40 in Paris climbed 0.6 percent to 4,783.76.
The euro traded at $1.07, while the pound fetched $1.24 and the Swiss franc equaled $1.00 at 12:25 p.m. CET.
Retail and luxury stocks were also uneven, with the morning’s biggest risers including Ted Baker, 1.6 percent to 28.96 pounds; Mulberry Group, 2.5 percent to 11.23 pounds; Safilo Group, 1.1 percent to 6.45 euros, and Associated British Foods, 1.2 percent to 24.77 pounds.
Among the stocks that lost the most ground were Yoox Net-a-porter Group, 3.9 percent to 22.98 euros, after the company reported 12.4 percent growth in 2016 sales to 1.87 billion euros. On an organic basis, sales were up 17.7 percent.
You May Also Like
Jimmy Choo fell 1.8 percent to 1.54 pounds, while Italia Independent Group dipped 5.1 percent to 4.24 euros. Hermès International was down 1.6 percent to 395.85 euros after the company reported sales rose 7.6 percent in the fourth quarter.