LONDON — European stock markets were on the uptick in midmorning trading on Thursday in anticipation of an expected increase in quantitative easing by the European Central Bank (ECB).

The FTSE MIB in Milan, the DAX in Frankfurt and the CAC 40 in Paris were each up 0.6 percent to 22,685.52, to 11,255.29 and to 4,934.54, respectively. The FTSE 100 advanced 0.1 percent to 6,426.78.

The euro traded at $1.06, while the pound fetched $1.50 and the Swiss franc equaled $0.97 at 10:35 a.m. CET.

Retail and luxury stocks were mostly on the rise, with the morning’s biggest gainers including Ted Baker, 3 percent to 34.79 pounds; Zalando, 2.8 percent to 35.22 euros; Kering, 3.2 percent to 165.85 euros; Safilo Group, 2 percent to 10.84 euros; Tod’s, 1.3 percent to 77.20 euros, and Mulberry Group, 1.5 percent to 9.39 pounds.

Among the few stocks that lost ground were Debenhams, 6.3 percent to 0.80 pounds, and Jimmy Choo, 1.5 percent to 1.31 pounds.

Later today, ECB chief Mario Draghi is expected to say that he will increase fiscal stimulus measures in the euro zone, which has been struggling with sluggish growth and historically low inflation.

Click Here for the WWD Global Stock Tracker >>

load comments
blog comments powered by Disqus