LONDON — Europe’s markets all gained ground Friday morning.
The DAX in Frankfurt rose 0.5 percent to 11,958.80, while the CAC 40 in Paris and the FTSE MIB in Milan were both up 0.2 percent, to 5,047.68 and 22,846.85 respectively. The FTSE 100 in London rose 0.1 percent to 6,969.81.
Fashion, luxury and retail stocks had a more uneven start.
Among the fallers were Mulberry, 4.3 percent to 8.50 pounds; Debenhams, 2.1 percent to 0.79 pounds and Bonmarché Holding, 1.2 percent to 2.87 pounds.
Those stocks that made gains included Ted Baker, 1.6 percent to 27.89 pounds, after the British fashion retailer on Thursday reported a 24.3 percent rise in its net profit for the year to Jan. 31, to 35.9 million pounds, or $58.5 million. Also up were Boohoo.com, 1.1 percent to 0.26 pounds, Koovs, 3.6 percent to 1.29 pounds.
Tesco gained 0.4 percent to 2.44 pounds, as the retailer said Friday that it has regained the sole ownership of 21 of its U.K. super stores, in a transaction with British Land. Tesco said that prior to the transaction, those stores and their associated debt were part of a joint venture between Tesco and British Land, and were subject to rent increases linked to the retail price index.
Dave Lewis, Tesco’s ceo, said the transaction “allows us to increase our ownership and thereby insulate more of our businesses from indexed rent reviews,” he said.
At 11.20 CET, the pound traded for $1.51, while the euro changed hands for $1.13.