LONDON – European stock markets made small gains in mid-morning trading on Thursday, with the FTSE MIB in Milan leading the way.
The Italian market was up 0.3 percent to 19,414.82, followed by the CAC 40 in Paris, 0.1 percent to 4,966.85. The DAX in Frankfurt and the FTSE 100 in London were broadly flat at 12,068.81 and 7,385.60 respectively.
The euro traded at $1.06, while the pound fetched $1.23, and the Swiss franc equaled $0.99 at 11:45 a.m. CET.
Retail and luxury stocks were mostly down, with the exception of SuperGroup, which advanced 2.1 percent to 15.11 pounds, and Yoox Net-a-porter Group, 2.8 percent to 23.38 euros after the company announced on Wednesday that adjusted net profit climbed 16 percent to 69.3 million euros, or $76.2 million in fiscal 2016.
Among the stocks that lost the most ground were Zalando, 2.7 percent to 36.61 euros; Debenhams, 2.9 percent to 0.53 pounds; French Connection, 1.8 percent to 0.35 pounds; and Luxottica Group, 2.8 percent to 49.00 euros.
Jimmy Choo, which reported a 27.9 percent uptick in adjusted, consolidated net income for the 2016 fiscal year dipped 0.3 percent to 1.57 pounds.