LONDON — European stocks logged modest gains in midmorning trading on Monday.
The FTSE MIB in Milan was up 0.9 percent to 17,319.45, followed by the DAX in Frankfurt 0.8 percent to 10,794.66. The CAC 40 in Paris rose 0.7 percent to 4,569.03 while the FTSE 100 in London was up 0.3 percent to 7,038.48.
The euro traded at $1.08, while the pound fetched $1.22 at 10:30 a.m. CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including French Connection Group, 10.3 percent to 0.36 pounds. The high street label is reported to be a potential target of takeover bids by private equity firms.
MySale Group rose 2.7 percent to 0.86 pounds; followed by Asos, 2 percent to 54.11 pounds.
Among the stocks that lost the most ground were Gemfields, 2 percent to 0.47 pounds; Mulberry, and Ted Baker, which both fell 1 percent — to 10.88 pounds and 25.45 pounds respectively.