LONDON — Europe’s markets were upbeat in Tuesday morning trading.
Milan’s FTSE MIB was leading the way, up 1.3 percent to 15,432.49, followed by Paris’ CAC 40, which increased 0.9 percent to 3,700.82, while the DAX in Frankfurt climbed 0.6 percent to 7,709.90.
London’s FTSE 100 advanced 0.7 percent to 6,318.26 as the British Retail Consortium said that retail sales in the U.K. had grown in March, boosted by the Easter weekend. Like-for-like retail sales were up 1.9 percent. On a total basis, they were up 3.7 percent, boosted by sales of food and home wares. Fashion and footwear sales, however, dropped owing to inclement weather with consumers disinclined to start purchasing new season looks.
The pound was trading at $1.53 against the dollar, the euro was getting $1.30, while the Swiss franc was fetching $1.07 at 11:00 a.m. CET.
Retail and luxury stocks were showing mixed results, with those shares gaining ground including Geox, up 2.7 percent to 2.14 euros; Safilo, 1.3 percent to 10.48 euros; and Burberry, 1 percent to 12.69 pounds.
Among those falling in price were the Swatch Group, down 0.9 percent to 90.80 Swiss francs, and Tod’s, which dipped 0.7 percent to 108.60 euros. Ethical gem miner Gemfields was flat at 0.25 pounds after suffering a fall of more than 15 percent on Monday on news of a possible ban on the sale of Zambian-mined gems being sold outside of the country.