LONDON – Europe’s major markets made modest gains in late morning trading on Monday, with the CAC 40 in Paris and the FTSE MIB in Milan leading the way.

The French and Italian markets were both up 0.3 percent to 5,335.16 and 22,162.93, respectively, followed by the DAX in Frankfurt, 0.2 percent to 13,018.05. The FTSE 100 in London was broadly flat at 7,383.17.

The euro traded at $1.18, while the pound fetched $1.32 and the Swiss franc equaled $1.01 at 12:15 p.m. CET.

Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Debenhams, up 1.9 percent to 0.40 pounds; Brunello Cucinelli, 1.8 percent to 26.97 euros; Safilo Group, 2.4 percent to 4.54 euros, and The Swatch Group, 2 percent to 70.75 Swiss francs.

Among the few stocks that lost ground were Mulberry Group, down 6.6 percent to 9.80 pounds;, 5.6 percent to 0.21 pounds;, 3.1 percent to 1.93 pounds, and Joules Group, 1.2 percent to 2.77 pounds.

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