LONDON — European stock markets were on the upswing in morning trading on Thursday, with the FTSE MIB in Milan leading the way.

The Italian market climbed 0.5 percent to 21,716.95. The FTSE 100 in London and CAC 40 in Paris both rose 0.2 percent, to 7,395.80 and 5,123.53, respectively. The DAX in Frankfurt was up 1 percent to 12,179.34.

The euro traded at $1.17, while the pound fetched $1.28 at 9:30 a.m. CET.

Retail and luxury stocks were uneven with the morning’s biggest gainers including Gemfields, 2 percent to 0.32 pounds; Hugo Boss, 1.9 percent to 71.84 euros, and Ted Baker, 1.1 percent to 24.91 pounds.

Among the few stocks that lost ground were Mulberry Group, 2.7 percent to 10.30 pounds; Marks and Spencer Group, 1.6 percent to 3.17 pounds, and Carrefour SA, 1.6 percent to 20.27 euros.

Click Here for the WWD Global Stock Tracker >>