LONDON — European stock markets made gains in midmorning trading on Tuesday, while British fashion retailers Burberry and Asos.com saw steep share price declines.
The FTSE MIB in Milan led the advance, climbing 1.6 percent to 16,901.40; followed by the CAC 40 in Paris, 1.2 percent to 4,505.25. The FTSE 100 in London and the DAX in Frankfurt were both up 1.1 percent to 7,021.37 and to 10,614.55, respectively.
The euro traded at $1.10, while the pound fetched $1.22 and the Swiss franc equaled $1.01 at 11:40 a.m. CET.
Burberry, which reported a 4 percent decline in underlying sales in the first half, despite a return to growth in the second quarter, was down 8.7 percent to 13.80 pounds.
Shares in the online fast-fashion retailer Asos.com, which reported a 26 percent uptick in group revenues for the year to Aug. 31, fell 7.1 percent to 49.52 pounds.
Among the morning’s other big fallers were MySale Group, 3.9 percent to 0.74 pounds; Italia Independent Group, 2.4 percent to 4.12 euros, and Salvatore Ferragamo, 1.5 percent to 22.21 euros.
Among the stocks that gained the most were SuperGroup, 1.5 percent to 14.50 pounds; Tesco, 2.7 percent to 2.07 pounds, and Marks & Spencer Group, 2 percent to 3.26 pounds.