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European Stock Markets Log Modest Gains

Retail and luxury stocks mostly were on the uptick, except Mulberry.

LONDON — European stock markets edged up in mid-morning trading on Monday, buoyed by positive data from China.

The CAC 40 in Paris advanced 0.9 percent to 3,889.94, while the FTSE MIB in Milan and the FTSE 100 in London were both up 0.8 percent, to 15,556.47 and to 6,594.30 respectively. The DAX in Frankfurt edged up 0.6 percent to 8,262.93.

The euro traded at $1.31 against the U.S. dollar, while the pound fetched $1.51, and the Swiss franc equaled $1.06 at 10:40 a.m. CET.

Retail and luxury stocks mostly made modest gains, with the exception of Mulberry Group, down 3.2 percent to 9.37 pounds, and Safilo Group, 0.2 percent to 16.17 euros.

Among the day’s biggest risers were Ferragamo, up 2 percent to 25.68 euros; Inditex, 1.8 percent to 99.28 euros; Carrefour, 2.4 percent to 21.69 euros; and Yoox.com, 1.5 percent to 20.15 euros.

Earlier on Monday, China’s National Bureau of Statistics said that economic growth slowed to 7.5 percent in the second quarter compared to a year earlier. Growth was 7.7 percent in the first quarter.

However, the 7.5 growth figure matched the Chinese government’s targets and analysts’ and financial news wires’ projections.