LONDON – Europe’s major markets made gains in mid-morning trading on Tuesday, with the FTSE MIB in Milan leading the way.
The Italian market was up 0.4 percent to 22,464.60, followed by the CAC 40 in Paris and the DAX in Frankfurt, both up 0.2 percent to 5,398.11 and 13,031.03, respectively. The FTSE 100 in London was flat at 7,527.17.
The euro traded at $1.18, while the pound fetched $1.32 and the Swiss franc equalled $1.01 at 11:15 a.m. CET.
Retail and luxury stocks mostly fell, with the morning’s biggest losers including Carrefour, down 1.1 percent to 17.59 euros; Moncler, 1.4 percent to 24.33 euros; Koovs.com, 2.8 percent to 0.26 pounds and Ted Baker, 1.9 percent to 26.66 pounds.
Among the stocks that gained the most ground were Essilor, up 3.1 percent to 290.88 euros, despite the fact that third-quarter like-for-like sales missed analysts’ expectations. Gemfields rose 2 percent to 0.32 pounds, while Luxottica was up 3.5 percent to 46.92 euros in spite of disappointing third-quarter growth.