LONDON — Europe’s stock markets made modest gains in mid-morning trading, with the DAX in Frankfurt leading the upswing.
The German market rose 0.9 percent to 6,772.46, followed by the CAC 40 in Paris, which climbed 0.8 percent to 3,252.86.
The FTSE 100 in London advanced 0.4 percent to 5,783.44 following a forecast that the U.K. economy will emerge from recession and return to growth in the second half and expand at a faster rate next year.
Italy’s FTSE MIB, meanwhile, climbed 0.2 percent to 14.246.34.
The euro traded at $1.32 while the pound traded at $1.62 at 11:10 am CET.
Retail and luxury stocks were mixed, with the morning’s biggest gainers including LVMH Moët Hennessy Louis Vuitton, which advanced 1.8 percent to 130.65 euros; Inditex, which climbed 1.8 percent to 68.78 euros; and Beiersdorf, which climbed 1.5 percent to 53.80 euros.
Hermès International was down 2.7 percent to 269.50 euros despite a 21.9 percent sales spike in the first quarter, while Safilo Group sank 1 percent to 4.91 euros.
The U.K.’s CBI business lobby group said today it is expecting annual growth of 0.6 percent this year, with the country emerging from recession in the second half.
“Despite the disappointing GDP estimate for the first quarter from the [Office of National Statistics], we still think the U.K. economy will grow in 2012, with faster growth next year,” said John Cridland, CBI’s director-general. “Optimism among businesses has been increasing since the turn of the year, with manufacturing demand holding up. And that is beginning to translate into more jobs and investment.”
Assouline is paying homage to the late Azzedine Alaïa with a reprint of "Alaïa Livre de Collection.” The book is comprised of photographs of the designer's summer 1992 runway show with models Christy Turlington Burns, Naomi Campbell and Tyra Banks, pictured here at right. #wwdfashion #alaia #tyrabanks
Fall 2018 accessories take on a painterly hue, with Nebulas Blue among Pantone’s top 10 colors of the season. (📸: @jonghyupstudio ; editor: @twallz21 ; stylist and set designer: @haideefindlaylevin ) #wwdaccessories
@americanapparelusa is relaunching the brand outside of the U.S. today, opening its online store to more than 200 countries. The company is also contemplating a return to brick-and-mortar, though details have not been confirmed. In tandem with the expanded distribution is a recasting of a social media ad campagn, called “Back to Basics,” pictured here, with a focus on diversity and a cast of models above the age of 21. Read more on WWD.com #wwdnews #wwdfashion
Exclusive: @britneyspears is continuing to expand her brand. The pop icon, who appears in @kenzo ’s latest campaign, is partnering with Epic Rights to launch a line of branded merchandise. Read @hernameislex ‘s story, link in bio. #wwdnews #britneyspears
The Duchess of Cambridge channeled Princess Diana’s look upon giving birth to Prince Harry, when she and the Duke of Cambridge departed the hospital with the new baby Prince this afternoon in London. #wwdeye #princeofcambridge
The new Prince of Cambridge has arrived! The Duke and Duchess of Cambridge posed with the 8-pound newborn. She wore a look from one of her go-to designers, @jennypackham. Tap link in bio for more. #wwdeye #princeofcambridge
Jewelry label @alisonlou has made a name for itself with fine jewelry that speaks to the Millennial market. Now @twallz21 reports that the label is bringing those playful ideas to a new affordable line of lucite hoops with the launch of Loucite by Alison Lou. Here’s a look from the line modeled by @emrata. #wwdaccessories
@sarahjessicaparker and @gilt are teaming up on a bridal ready-to-wear line. Tomorrow, Parker will launch SJP by Sarah Jessica Parker Bridal — and as part of the launch, Gilt will offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear collection that were designed to complement the new line. Made out of 10 styles, the line is designed for a variety of occasions, from bridal showers to receptions. Get more details on WWD.com #wwdfashion