LONDON — Europe’s markets all notched up significant rises Monday morning.
The DAX in Frankfurt advanced 3.3 percent to 11,405.97, followed by the CAC 40 in Paris, up 3.2 percent to 4,970.27. The FTSE MIB in Milan gained 2.2 percent to 23,187.58, while the FTSE 100 in London was up 1.3 percent to 6,797.22.
Investors were buoyed by hopes that Greece would finally agree to a deal with its debtors, ahead of Greek Prime Minister Alexis Tsipras meeting the heads of the European Commission, the International Monetary Fund and the European Central Bank on Monday. The aim is to avert Greece defaulting on a 1.6 billion euro debt repayment, due at the end of June.
Fashion, luxury and retail stocks were largely up, too.
Those that rose the most included Inditex, 3.3 percent to 30.45 euros; Aeffe, 3.7 percent to 1.98 euros; Carrefour, 3.2 percent to 29.42 euros, and Kering, 2.1 percent to 158.00 euros.
The few fallers numbered Jimmy Choo, 1.4 percent to 1.51 pounds; Hugo Boss, 1.7 percent to 100.85 euros, and Gemfields, 4.4 percent to 0.61 pounds. Gemfields fell after the colored gemstone mining firm said Monday that its rough ruby auction in Singapore achieved revenues of $29.3 million, less than some analysts had expected.
At 11:16 a.m. CET, the pound traded for $1.59, while the euro went for $1.13.