LONDON — European stock markets were on the rise in morning trading on Thursday.
The DAX in Frankfurt advanced 0.7 percent to 12,536.48, followed by the CAC 40 in Paris, 0.6 percent to 5,247.21. The FTSE 100 in London was up 0.4 percent to 7,461.84, while the FTSE MIB in Milan rose 0.3 percent to 21,550.45.
The euro traded at $1.15, while the pound fetched $1.30 at 9:30 a.m. CET.
Retail and luxury stocks were also on the upswing. The morning’s biggest risers included Gemfields, which advanced 7.4 percent to 0.32 pounds. The gemstone miner on Wednesday announced it will be acquired by Pallinghurst Resources, its largest shareholder. Tesco was up 2.7 percent to 1.78 pounds, and Debenhams rose 1.2 percent to 0.43 pounds.