LONDON — Europe’s major markets rallied on Thursday, as investors grew accustomed to the idea of a U.S. led by Donald Trump.
The FTSE MIB in Milan was up 1.5 percent to 17,052.13, followed by the CAC 40 in Paris, 1.1 percent to 4,591.22. The FTSE 100 in London and the DAX in Frankfurt both climbed 0.8 percent to 6,968.27 and to 10,730.89, respectively.
The euro traded at $1.11, while the pound fetched $1.24 and the Swiss franc equaled $1.03 at 11:15 a.m. CET.
Retail and luxury stocks were on the upswing, with the morning’s biggest gainers including SuperGroup, parent of Superdry rising 10 percent to 15.91 pounds. Yoox Net-a-porter advanced 5.1 percent to 26.37 euros after the company reported a 12 percent rise in revenue growth in the third quarter.
Mulberry Group was up 3.2 percent to 11.40 pounds, while Burberry climbed 2.1 percent to 14.82 pounds after the company reported progress in its cost-cutting program, despite a double-digit decline in first-half profit.
Among the few stocks to lose ground were Adidas, 2 percent to 136.90 euros; Safilo Group, 7.2 percent to 8.56 euros, and Zalando, 2.3 percent to 36.70 euros after the company saw third-quarter profits rise despite a slowdown in revenue growth.