LONDON — European stock markets were up in mid-morning trading on Wednesday, ahead of guidance expected from the U.S. Federal Reserve regarding the country’s interest rates.
The FTSE MIB in Milan and the CAC 40 in Paris both advanced 0.4 percent to 23,636.12 and to 5,191.72, respectively, followed by the FTSE 100 in London, up 0.3 percent to 7,049.20, and the DAX in Frankfurt, 0.2 percent to 11,835.75.
The euro traded at $1.09, while the pound fetched $1.53 and the Swiss franc equaled $1.05 at 11:10 a.m. CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including British fast-fashion retailer Next, which advanced 3.6 percent to 74.25 pounds after the store said full-price sales climbed 3.2 percent and total sales were up 4.1 percent in the first quarter, ahead of the company’s guidance in March.
Hermès International advanced 3.3 percent to 347.25 euros after the company reported an 8 percent uptick in sales at constant exchange rates and first-quarter revenues that were boosted by currency fluctuations.
Salvatore Ferragamo also gained ground, climbing 2.1 percent to 28.80 euros; Marks & Spencer Group, 2 percent to 5.66 pounds, and Swatch Group, 1.4 percent to 84.25 Swiss francs.
Among the few stocks that lost ground were Safilo Group, 2.3 percent to 13.86 euros after first-quarter earnings fell, and Jimmy Choo, 2.4 percent to 1.69 pounds.