Kering Shares Fall 6.2%

LONDON — Europe’s stock markets were mostly down in mid-morning trading on Wednesday, while Kering posted a 6.2 percent fall to 167.05 euros following a 11 percent uptick in first-quarter group revenue. Milan’s FTSE MIB was the only market on the upswing, climbing 0.1 percent to 23,260.39. The FTSE 100 in London fell 0.6 percent to 7,023.05; the CAC 40 in Paris 0.3 percent to 5,178.30; and the DAX in Frankfurt 0.1 percent to 11,926.59. The euro traded at $1.07, while the pound fetched $1.49, and the Swiss franc equaled $1.05 at 10:45 a.m. CET. Retail and luxury stocks put on an uneven performance, with Kering and other major luxury goods brands losing the most ground. Compagnie Financière Richemont fell 1.4 percent to 81.90 Swiss francs following a warning that year-end profit would be down 36 percent. Burberry dipped 1.7 percent to 17.91 pounds; Mulberry 2 percent to 9.02 pounds; Salvatore Ferragamo, 2 percent to 29.84 euros; and LVMH Moët Hennessy Louis Vuitton 1.7 percent to 161.35 euros. Among the few stocks that gained ground were Moncler, 2 percent to 16.44 euros; MySale Group, 1.3 percent to 0.57 pounds; and Koovs.com, 1.3 percent to 0.76 pounds. Click Here for the WWD Global Stock Tracker >>

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