LONDON — Europe’s markets all gained ground in trading Thursday morning.
The FTSE 100 in London rose 0.4 percent to 6,657.77, while the CAC 40 in Paris and the FTSE MIB in Milan were both up 0.3 percent, to 5,032.44 and 23,324.02, respectively. The DAX in Frankfurt edged up 0.2 percent to 11,231.34.
Investors were upbeat on Wednesday’s news that the U.S. Federal Reserve would leave interest rates unchanged, and its assessment that the country’s economic activity has been “expanding moderately” in recent months, with the labor market improving. The central bank said it plans to raise interest rates when it sees “some further improvement in the labor market.”
Fashion, luxury and retail stocks were largely up in the morning’s trading. The highest risers numbered Italia Independent, 3.9 percent to 32.00 euros; French Connection, 2.7 percent to 0.39 pounds and Moncler, 2.5 percent to 17.91 euros. The latter rose as the luxury label reported Wednesday that its net profits surged 88 percent to 34 million euros, or $39.8 million, in the six months to June 30, thanks to a strong performance in the U.S.
Fallers included Koovs, 3.4 percent to 0.71 pounds; MySale Group, 1.7 percent to 0.45 pounds and Yoox Group, 1.7 percent to 29.91 euros.
At 11:55 a.m. CET, the pound traded for $1.56, while the euro went for $1.10.