LONDON — European stock markets made modest gains in mid-morning trading on Thursday, with the FTSE MIB in Milan leading the way.
The Italian market was up 0.7 percent to 19,710.52, followed by the DAX in Frankfurt, 0.5 percent to 11,862.27. The FTSE 100 in London and the CAC 40 in Paris were both up 0.2 percent to 7,179.66 and to 4,887.81, respectively.
The euro traded at $1.07, while the pound fetched $1.26, and the Swiss franc equaled $1.00 at 11:00 a.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest gainers including Safilo Group, 3.5 percent to 7.05 euros, following news earlier this week that it plans to set up an atelier division dedicated to producing ultra-luxury collections. As reported, the division will launch with the Elie Saab Couture and Oxydo brands.
Flash sales site MySale Group was also on the upswing, climbing 3 percent to 1.20 pounds, while Jimmy Choo advanced 2.3 percent to 1.55 pounds after announcing a 14.5 rise in 2016 revenue.
Among the stocks to lose the most ground were Ted Baker, 2.1 percent to 29.23 pounds; Britain’s Bonmarché Holdings, 2.7 percent to 0.80 pounds, and Unilever, 3.7 percent to 37.84 euros, after the company announced that fourth-quarter revenue dipped 0.4 percent due to weaker sales volumes in some of its largest markets.