LONDON — Europe’s major markets were on the upswing in late morning trading on Wednesday, with the FTSE MIB in Milan leading the way.

The Italian market was up 1.2 percent to 21,985.80, followed by the CAC 40 in Paris, 1.1 percent to 5,199.00 and the DAX in Frankfurt, 0.9 percent to 12,290.71. The FTSE 100 in London rose 0.7 percent to 7,433.02.

The euro traded at $1.17, while the pound fetched $1.29 and the Swiss franc equaled $1.03 at 12:25 p.m. CET.

Retail and luxury stocks also advanced, with the morning’s biggest risers including Yoox Net-a-porter Group and Tesco, which were both up 1.5 percent to 28.33 euros and to 1.80 pounds respectively.

Gemfields climbed 2 percent to 0.32 pounds; Aeffe, 1.5 percent to 1.90 euros, and Mulberry, 3.5 percent to 11.07 pounds.

Among the few stocks to lose ground were Italia Independent Group, 2.2 percent to 5.02 euros and MySale Group, 1.2 percent to 1.03 euros.

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