LONDON — Europe’s markets were all on the upswing this morning.
The FTSE MIB in Milan gained 0.5 percent to 15,171.18 points, while the CAC 40 in Paris rose 0.4 percent to 3,426.94. The FTSE 100 in London was up 0.3 percent to 5,730.78, while the DAX in Frankfurt increased 0.2 percent to 6,984.58.
Investors are said to be hopeful that the European Central Bank will announce a further program to buy European government bonds when it meets Thursday. Investors are anticipating more action from the ECB after Chinese manufacturing data showed that the country’s purchasing managers’ index, released this weekend, had fallen to 49.2, indicating a slowdown in China’s growth and tougher times ahead for the global economy.
It was also a positive morning for most fashion, luxury and retail stocks. Among the highest risers were Tod’s, which surged 4 percent to 88 euros; Safilo Group, which rose 3.2 percent to 6.41 euros; French Connection, which gained 2.8 percent to 22 pence, and Prada, which closed up 2.1 percent to 61 Hong Kong dollars.
The few fallers included Mulberry, down 0.8 percent to 13.21 pounds; Hennes & Mauritz, which fell 0.2 percent to 239.20 Swedish krona, and Asos.com, which lost 1.7 percent to 17.99 pounds.
The euro traded at $1.26, while the pound traded at $1.59. The Hong Kong dollar was at $0.13, and the Swedish krona was at $0.15.