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European Stock Markets Make Modest Gains

Italian stocks boosted by decision on Berlusconi.

LONDON — European stock markets edged up at the close of trading on Thursday, with Milan’s FTSE MIB in the lead.           

The Italian market advanced 0.9 percent to 19,099.36; followed by the DAX in Frankfurt, 0.4 percent to 9,387.37; and the CAC 40 in Paris, 0.2 percent to 4,302.42. The FTSE 100 in London advanced 0.1 percent to 6,654.47.

The euro traded at $1.36, while the pound fetched $1.62, and the Swiss franc, $1.10.

Retail and luxury stocks were mostly up, with the exception of Mulberry Group, which fell 1.4 percent to 9.95 pounds, and Marks & Spencer Group, 0.8 percent to 4.86 pounds.

Among the stocks that gained the most ground were Brunello Cucinelli, 2.7 percent to 25.65 euros; Asos.com, 1.3 percent to 57.93 pounds; and Tod’s, 1.1 percent to 126.20 euros.

Italian stocks got a boost on Thursday after Italy’s senate voted earlier this week to expel former Prime Minister Silvio Berlusconi from parliament following his conviction for tax fraud.

The move means that Berlusconi – an increasingly embattled and unpopular figure – no longer has immunity from prosecution and can be arrested in other criminal cases.