LONDON — European stock markets were on the uptick in midmorning trading as French leaders warned of future terrorist attacks in the country.

The DAX in Frankfurt led the way, jumping 1.2 percent to 11,093.72, followed by the FTSE 100 in London, 1 percent to 6,344.16. The CAC 40 in Paris climbed 0.9 percent to 4,949.90, followed by the FTSE MIB in Milan, 0.8 percent to 22,262.14.

The euro traded at $1.07, while the pound traded at $1.52 and the Swiss franc equaled $0.98 at 10:35 a.m. CET.

On Thursday morning, the BBC reported that French prime minister Manuel Valls has warned the country is highly vulnerable to a chemical or biological attack from ISIS terrorist groups. France is also mulling the extension of its state of emergency announced after Friday’s attacks that left 129 dead and more than 350 injured.

Retail and luxury stocks shrugged off the news, making modest gains in midmorning. and French Connection Group were both up 1.5 percent, to 32.19 pounds and to 0.34 pounds respectively, while Inditex climbed 1.1 percent to 33.01 euros. Luxottica rose 1.2 percent to 63.45 euros; Salvatore Ferragamo, 2 percent to 21.79 euros, and Adidas AG, 1.2 percent to 87.99 euros.

Among the few stocks that lost ground were Jimmy Choo, which fell 1.7 percent to 1.47 pounds; and Swatch Group, 0.6 percent to 69.95 Swiss francs following news earlier this morning that Swiss watch exports declined 12.3 percent in October, impacted primarily by contractions in the main markets of Asia and the United States.

Click Here for the WWD Global Stock Tracker >>

load comments
blog comments powered by Disqus