LONDON — European stock markets started their short week on a positive note, making modest gains ahead of a speech in New York by Janet Yellen, chair of the U.S. Federal Reserve.
Following the long Easter holiday weekend, the CAC 40 was up 0.8 percent to 4,365.91, while the DAX in Frankfurt climbed 0.7 percent to 9,921.60.
The FTSE 100 in London and the FTSE MIB in Milan were both up 0.3 percent, to 6124.95 and to 18,213.41 respectively.
The euro traded at $1.12, while the pound fetched $1.42 and the Swiss franc equaled $1.02 at 11:30 a.m. CET.
Retail and luxury stocks were also on the uptick, with the biggest gainers including Jimmy Choo, 1.9 percent to 1.30 pounds; Mulberry Group, 1.7 percent to 9.67 pounds; Salvatore Ferragamo, 1.5 percent to 21.76 euros; Marks and Spencer, 1.8 percent to 3.99 pounds; and Associated British Foods, parent of Primark, 1.8 percent to 33.25 pounds.
Among the few stocks that fell was Boohoo.com, 1.3 percent to 0.43 pounds.
Yellen is set to make a speech later today that will take in the economic outlook, the possibility of interest rate hikes, and monetary policy, according to press reports. Also on Tuesday, the U.S. is to release figures on home prices and consumer confidence.