LONDON — Europe’s markets were all on the rise Tuesday morning.
The FTSE MIB in Milan gained 0.9 percent to 19,661.31, followed by the CAC 40 in Paris, up 0.8 percent to 4,428.01. The FTSE 100 in London rose 0.4 percent to 6,610.55, while the Swiss Market Index was up 0.2 percent to 8,166.95 and the DAX in Frankfurt advanced 0.1 percent to 10,254.02.
Reuters reported that China’s economy recording better-than-expected progression in the fourth quarter cheered investors, even though growth for 2014 overall was up 7.4 percent, marking China’s weakest yearly gains in 24 years. China’s National Bureau of Statistics said Tuesday that the country’s GDP rose 7.3 percent in the fourth quarter compared to the same period last year and 1.5 percent quarter-on-quarter.
It was a varied morning for fashion, luxury and retail stocks.
Risers included The Mysale Group, up 5.6 percent to 0.59 pounds; Prada, 1.9 percent to 42.15 Hong Kong dollars, and Yoox, 3.7 percent to 18.51 euros.
Fallers included Aeffe, down 1.4 percent to 1.88 euros; Ted Baker, 1.5 percent to 23.64 pounds, and Unilever, 1.8 percent to 34.19 euros. The latter fell as the company reported earlier Tuesday a 4.9 percent uptick in its full-year net profit to 5.52 billion euros but a 2.7 percent decline in its revenues to 48.44 billion. Sales were hit by a slowdown in emerging markets and a decline in revenues in developed markets.
At 12 p.m. CET, the pound traded for $1.51, the euro went for $1.16 and the Hong Kong dollar for $0.13.