LONDON — European stock markets were up in midmorning trading on Monday.
The DAX in Frankfurt and the CAC 40 in Paris both rose 3 percent to 9,929.81 and 4316.77, respectively. The FTSE 100 in London and the FTSE MIB in Milan were both up 2.6 percent to 6,176.03 and 4,317.39 respectively.
The euro traded at $1.12 while the pound fetched $1.43 and the Swiss franc $1.04 at 11:30 a.m. CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Yoox Net-a-porter, 5.3 percent to 23.17 euros. The company reported the departure of Naomi Hewitt, director of people and organization last week. Hewitt was tasked to build a new corporate culture under chief executive officer Federico Marchetti. Sainsbury was up 3.9 percent to 2.40 pounds. Earlier this month, the grocer reported a fall in like-for-like sales over the last three months and warned of challenging times ahead. The company recently acquired Argos owner Home Retail Group.
Among the few stocks that lost ground were Mulberry, 3.1 percent to 9.93 pounds; Brunello Cucinelli, 1.5 percent to 17.29 euros, and Jimmy Choo, 0.7 percent to 1.08 pounds.