LONDON — Europe’s major stock markets made modest gains in mid-morning trading, with the CAC 40 in Paris leading the uptick.

The French market rose 0.5 percent to 3,393.20, while the FTSE 100 in London climbed 0.4 percent to 5,817.36. The FTSE MIB in Milan and the DAX in Frankfurt rose 0.4 percent.

The Italian market advanced to 16,340.63 while the German one climbed to 6,681.71.
The euro traded at $1.32 while the pound traded at $1.58 at 11:30 am CET.


The small gain in the FTSE 100 came on the back of strong growth in the service sector in January, according to Markit/Cips Purchasing Managers’ Index. The index rose to 56.0, the highest since March of last year.


The euro zone’s service sector also grew, according to the same index. The index in the euro zone rose to 50.4 in January, compared with 48.8 in December.


Retail and luxury stocks put on a mixed show, with the morning’s biggest gainers including Benetton Group, which will soon be taken private, rising 19.5 percent to 4.65 euros; Geox, climbing 5.5 percent to 2.70 euros; and Burberry Group, which advanced 1.2 percent to 14.48 pounds.


Among the stocks that lost the most in mid-morning were French Connection, which was down 1.9 percent to 0.58 pounds, and L’Oreal, which tumbled 1.7 percent to 81.15 euros.

load comments
blog comments powered by Disqus