LONDON — European stock markets were on the uptick in midmorning trading on Wednesday, with all major indices making gains on the back of upbeat Chinese data and an increase in oil prices.
The FTSE MIB in Milan was up 1.5 percent to 20,263.35; followed by the CAC 40 in Paris, 1.4 percent to 4,438.46, and the FTSE 100 in London, 1.1 percent to 5,993.47. The DAX in Frankfurt climbed 1 percent to 10,085.34.
The euro traded at $1.09, while the pound fetched $1.45 and the Swiss franc equaled $1.00 at 12:30 p.m. CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Aeffe, 2.3 percent to 1.40 euros; Tesco, 3.4 percent to 1.60 pounds; Ted Baker, 4.7 percent to 28.26 pounds; Carrefour, 2.5 percent to 25.72 euros, and Unilever, 1.8 percent to 38.64 euros.
Among the stocks that lost the most ground were Koovs.com, 2.7 percent to 0.23 pounds; Brunello Cucinelli, 2.7 percent to 15.81 euros; Hugo Boss, 2.4 percent to 68.99 euros; Jimmy Choo, 3.6 percent to 1.30, and Zalando, 2.8 percent to 31.91 euros.
According to official data, Chinese exports rose in December in local currency, outstripping market expectations, while crude oil imports climbed 9.3 percent in the month.
The price of oil has also risen this week to more than $31 a barrel, which has been reassuring to markets.