LONDON – Europe’s major markets were on the rise in late morning trading on Monday with the FTSE MIB in Milan leading the way.
The Italian market climbed 1.6 percent to 20,907.46, followed by the CAC 40 in Paris, 1 percent to 5,173.09, and the DAX in Frankfurt, 0.7 percent to 12,414.05. The FTSE 100 in London was up 0.4 percent to 7,338.02.
The euro traded at $1.14, while the pound fetched $1.30, and the Swiss franc equaled $1.04 at 12:15 p.m. CET.
Retail and luxury stocks were mostly on the rise, with the morning’s biggest gainers including Aeffe, 1.5 percent to 1.65 euros; Tod’s, 1 percent to 55.15 euros; Safilo Group, 1.5 percent to 6.58 euros; and Marks and Spencer Group, 1.5 percent to 3.38 pounds.
Hennes & Mauritz climbed 2.3 percent to 214.70 Swedish kronor, or $25.43, while Compagnie Financière Richemont edged up 0.3 percent to 79.25 Swiss francs following the sale of its Shanghai Tang division to the Italian entrepreneur Alessandro Bastagli.