LONDON — European stock markets made small gains in late morning trading on Friday, with the exception of the FTSE MIB in Milan, which was down 0.7 percent to 18,216.60.

The FTSE 100 in London and the DAX in Frankfurt were both up 0.4 percent to 6,154.41 and to 9,786.40, respectively. The CAC 40 in Paris climbed 0.3 percent to 4,430.95.

The euro traded at $1.09, while the pound fetched $1.41 and the Swiss franc equaled $1.00 at 12:05 p.m. CET.

Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Italia Independent Group, 2.2 percent to 22.99 euros; Tesco, 1.8 percent to 1.89 pounds; Carrefour, 2.4 percent to 25.45 euros, and Moncler, 2.4 percent to 14.70 euros after it reported strong double-digit sales and profit gains in 2015.

Among the few stocks that fell were Zalando, down 1.8 percent to 29 euros after the company more than doubled its profits in 2015; Gemfields, 2.8 percent to 0.44 pounds; Mulberry Group, 1.3 percent to 9.74 pounds, and Aeffe, 1.2 percent to 1.19 euros.