LONDON – Europe’s markets gained ground in early afternoon trading on Monday, with the FTSE MIB in Milan leading the way.
The Italian market was up 1.5 percent to 21,141.32, followed by the CAC 40 in Paris, 1.1 percent to 5,322.93, and the DAX in Frankfurt, 0.8 percent to 12,836.67. The FTSE 100 in London rose 0.7 percent to 7,474.63.
The euro traded at $1.12, while the pound fetched $1.27 at 1:30 p.m. CET.
Retail and luxury stocks were also on the rise, with the morning’s biggest gainers including Associated British Foods, 1.5 percent to 29.76 pounds; Safilo Group, 3.1 percent to 6.68 euros; Unilever, 1.3 percent 50.55 euros, and Hermès International, 2.1 percent to 447.50 euros.
L’Oréal was up 3.8 percent to 195.20 euros hours after activist investor Dan Loeb contended that Nestlé should pull out of the French beauty giant.
Among the stocks that lost the most ground were Italia Independent Group, 2.2 percent to 4.94 euros; Geox, 1.2 percent to 2.90 pounds; Mulberry, 1 percent to 10.95 pounds, and Ted Baker, 1.3 percent to 23.87 pounds.