LONDON — European stock markets made small gains in midmorning trading on Wednesday, with the FTSE MIB in Milan leading the way.
The Italian market was up 0.9 percent to 18,179.02; followed by the CAC 40 in Paris, 0.4 percent to 4,425.30, and the DAX in Frankfurt, 0.3 percent to 9,742.58. The FTSE 100 in London edged up 0.2 percent to 6,167.50.
The euro traded at $1.09, while the pound fetched $1.39 and the Swiss franc equaled $1.00 at 11:40 a.m. CET.
Retail and luxury stocks put on an uneven show, with the morning’s biggest gainers including Yoox Net-a-porter Group, 2.7 percent to 28.15 euros; Gemfields, 6.2 percent to 0.47 pounds; Burberry Group, 2.1 percent to 13.80 pounds, and French Connection Group, 2.2 percent to 0.44 pounds.
Among the stocks to lose the most ground were Luxottica Group, 4.2 percent to 51.50 pounds; and Primark’s parent Associated British Foods, 1.7 percent to 33.86 pounds.
On Tuesday, Italian eyewear giant Luxottica trimmed its profit expectations to 1.5 times sales growth from 2 times, and said it would increase spending on retail and online.