PARIS — Europe’s major markets were on the rise Monday morning, as fears ebbed that the U.S. Federal Reserve would raise the country’s interest rates this week.
London’s FTSE 100 and the CAC 40 in Paris were each up 1.4 percent to 6,806.30 and 4,392.81 points, respectively. The FTSE MIB in Milan gained 1.3 percent to 16,397.42, while Frankfurt’s DAX advanced 0.9 percent to 10,363.07.
The euro was trading at $1.12 and the pound at $1.31 at 12 p.m. CET.
Fashion, luxury and retail stocks were mixed. Among the strongest gainers were Tesco, up 3 percent to 1.74 pounds; Salvatore Ferragamo, 2.9 percent to 21.23 euros, and French Connection Group, 2.2 percent to 0.42 pounds.
Stocks on the decline included Gemfields, down 3.1 percent to 0.44 pounds, after J.P. Morgan Chase & Co. raised its target price on Friday in a research note. Brunello Cucinelli and Koovs each retreated 1.1 percent to 17.80 euros and 0.66 pounds, respectively.