LONDON – Europe’s major markets made small gains in late morning trading on Friday, with the FTSE MIB in Milan leading the way.

The Italian market was up 0.5 percent to 21,581.42, followed by the FTSE 100 in London, 0.2 percent to 7,398.05. The CAC 40 in Paris and the DAX in Frankfurt both climbed 0.1 percent, to 5,386.47 and to 12,726.74, respectively.

The euro traded at $1.09, while the pound fetched $1.29 and the Swiss franc equaled $0.99 at 11:55 a.m. CET.

Retail and luxury stocks were mostly down, with the morning’s biggest fallers including, 5.8 percent to 0.41 pounds; Mulberry Group, 3.9 percent to 10.48 pounds; Geox, 2.3 percent to 2.83 euros, and Compagnie Financière Richemont, 5.2 percent to 81.40 Swiss francs after the company notched a slowdown in fourth-quarter sales growth in a difficult year. Gemfields declined 5.2 percent to 39.48 pounds.

Among the few stocks to gain any ground was Carrefour, up 3.1 percent to 22.69 euros.

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