LONDON — European stock markets were on the upswing in midmorning trading on Friday, while Burberry shares gained 2.2 percent following news that it planned to stage buy-now, wear-now fashion shows starting later this year.
The FTSE MIB in Milan led the uptick, gaining 0.9 percent to 17,771.45, followed by the CAC 40 in Paris, 0.7 percent to 4,256.03, and the FTSE 100 in London, 0.6 percent to 5,932.12. The DAX in Frankfurt was up 0.3 percent to 9421.83.
The euro traded at $1.11 while the pound fetched $1.46, and the Swiss franc equaled $1.00 at 12:00 noon CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Swatch Group, 3.5 percent to 68.50 Swiss francs, after the company said earlier this week it expects to return to growth following a sales decline in 2015.
Tesco was up 2.5 percent to 1.74 pounds, while Burberry Group rose to 12.07 pounds after announcing that it will, later this year, begin combining its men’s and women’s collections on one runway, show just twice a year, and make everything available in-store and online immediately.
Among the few stocks that lost ground were Italia Independent Group, 4.3 percent to 21 euros; Geox, 2.9 percent to 3.39 euros, and Beiersdorf, 3 percent to 82.40 euros.