LONDON — Europe’s markets were all on the rise Friday morning.
The DAX in Frankfurt gained 1.3 percent to 9,607.18, while the FTSE MIB in Milan rose 1.2 percent to19,436.68. The CAC 40 in Paris was up 0.9 percent to 4,273.15, while the FTSE 100 in London rose 0.6 percent to 6,719.06.
The gains followed a speech by the European Central Bank’s president Mario Draghi Friday, at the opening of the Frankfurt European Banking Congress, during which he said the ECB will take action to raise inflation in the region.
“We will do what we must to raise inflation and inflation expectations as fast as possible, as our price stability mandate requires of us,” said Draghi.
The majority of fashion, luxury and retail stocks gained ground, too.
Those that rose the most included Asos, 2.5 percent to 24.44 pounds; Metro, 2.1 percent to 26.27 euros; Inditex, 1.3 percent to 22.78 euros and Brunello Cucinelli, 2 percent to 17.08 euros.
The few fallers numbered Mulberry, 1.9 percent to 7.59 pounds; French Connection, 1.7 percent to 0.52 pounds and The Mysale Group, 2.7 percent to 2.06 pounds.
At 11.20 a.m. CET, the pound traded for $1.57, while the euro went for $1.25.