Jimmy ChooAthena Calderone hosts Vogue and Jimmy Choo event, New York, USA - 14 Jul 2017

LONDON — Europe’s major markets were on the rise in early afternoon trading on Tuesday, with the FTSE 100 in London leading the way.

The British market climbed 1 percent to 7,448.40, followed by the CAC 40 in Paris and the FTSE MIB in Milan, which were both up 0.9 percent to 5,175.95 and to 21,520.00, respectively. The DAX in Frankfurt advanced 0.5 percent to 12,272.54.

The euro traded at $1.17, while the pound fetched $1.30 at 12:30 p.m. CET.

Retail, fashion and luxury stocks were also buoyant following the news that Jimmy Choo is set to be sold to Michael Kors in an all-cash deal that values the British footwear maker at nearly 900 million pounds.

RELATED: Michael Kors to Acquire Jimmy Choo in Cash Offer >>

Shares in Choo were up 16.9 percent to 2.28 pounds, while Hugo Boss climbed 3.4 percent to 64.19 euros; Burberry, 2.5 percent to 16.94 pounds; French Connection, 9.2 percent to 0.42 pounds; Luxottica, 2.6 percent to 53.15 euros, and Moncler, 1.2 percent to 21.45 euros.

Among the few stocks that lost ground were Marks & Spencer Group, 1.4 percent to 3.21 pounds; Ted Baker, 0.7 percent to 24.59 pounds, and Brunello Cucinelli, 0.4 percent to 24.40 euros.

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