Europe’s Markets Gain Modestly

Retail and luxury stocks were mostly up.

LONDON — European stock markets made modest gains today, with the DAX in Frankfurt leading the way.

The German market was up 1 percent to 7,821.91, followed by the CAC 40 in Paris, which advanced 0.6 percent to 3,775.04, and the FTSE MIB in Milan, which increased 0.5 percent to 17,838.60. The FTSE 100 in London rose 0.1 percent to 6,271.73.

The pound traded at $1.58, the euro at $1.33 and the Swiss franc at $1.08 at 11:35 a.m. CET.

Retail and luxury stocks were mainly on the upswing, with the morning’s biggest gainers including Hugo Boss, which advanced 1.2 percent to 88.11 euros; Carrefour, which was up 1.9 percent to 21.48 euros; Yoox, which rose 2.7 percent to 13.65 euros, and Tod’s, which increased 1.6 percent to 103.80 euros.

In the U.K., gross domestic product decreased 0.3 percent year-on-year in the fourth quarter of 2012, according to the Office of National Statistics. The figure fell short of analysts’ expectations: GDP was projected to be flat year-on-year. The figure is an estimate, and could be revised in coming weeks.