By  on September 27, 2011

LONDON — Hope that a comprehensive euro zone rescue plan will emerge over the coming weeks boosted markets across Europe this morning, with most major luxury and retail stocks also on the upswing.

At 10:30 am CET, Germany’s DAX was the biggest winner, rising 3.6 percent, followed by France’s CAC 40, which was up 3.2 percent. Italy’s FTSE MIB climbed 2.8 percent, followed by the FTSE 100, which advanced 2.3 percent.

IMF, World Bank, and G20 leaders met over the weekend to talk about a variety of ways to tackle Europe’s sovereign debt problems and shore up the euro. Among the proposals discussed were writing down a substantial amount of Greek debt and fortifying Europe’s bailout fund, the European Financial Stability Facility.

Among retail and luxury stocks, the morning’s biggest winners included Benetton Group, which rose 8.4 percent, Esprit Holdings, which climbed 7.2 percent, and French Connection, which was up 9.8 percent.

Shares in Mulberry Group fell 2.2 percent in mid-morning trading.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus