LONDON — European stock markets made small gains in mid-morning trading on Wednesday with the FTSE MIB in Milan leading the way.

The Italian market rose 0.7 percent to 21,258.36, followed by the FTSE 100 in London and the CAC 40 in Paris, both up 0.6 percent to 7,369.89 and to 5,172.03, respectively. The DAX in Frankfurt advanced 0.4 percent to 12,484.61.

The euro traded at $1.14, while the pound fetched $1.29 and the Swiss franc equaled $1.03 at 10:40 a.m. CET.

Retail and luxury stocks were mostly on the rise, with the morning’s biggest gainers including Burberry, 3.3 percent to 16.32 pounds after the company delivered a 13 percent increase in first-quarter retail revenue, with 3 percent underlying growth. The results outstripped some analysts’ expectations.

Tod’s was up 1.1 percent to 55.70 euros; Adidas, 1.5 percent to 177.55 euros; Swatch Group, 1.4 percent to 69.35 Swiss francs; Boohoo.com, 4.8 percent to 2.31 pounds, and Kering, 1 percent to 300.40 euros.

Among the few stocks that lost ground were Gemfields, 4.8 percent to 0.30 pounds; Marks and Spencer Group, 0.9 percent to 3.20 pounds, and SuperGroup, parent of Superdry, 1.8 percent to 15.41 pounds.

Click Here for the WWD Global Stock Tracker >>

load comments
blog comments powered by Disqus