LONDON — Europe’s stock markets were on the upswing in midmorning trading on Thursday, with the FTSE MIB in Milan leading the way.
The Italian market was up 1.2 percent to 20,976.15; followed by the CAC 40 in Paris, 0.7 percent to 5,321.41, and the DAX in Frankfurt, 0.4 percent to 12,665.87. The FTSE 100 in London advanced 0.3 percent to 7,542.97.
The euro traded at $1.12, while the pound fetched $1.28 at 11:00 a.m. CET.
Retail and luxury stocks put on an uneven show, with Jimmy Choo among the biggest gainers. The stock was up 1.3 percent to 2.00 pounds after the company, which is for sale, released a brief but positive trading update ahead of its annual general meeting later on Thursday.
Although Choo did not supply any numbers or percentages, it said trade had been strong in the year to date, in line with management’s expectations. The statement said all categories have shown strong growth, with men’s footwear the star performer. The company said its fragrance license with InterParfums is also performing particularly well.
Choo has opened six stores so far this year and has completed eight renovations. The company said it has seen strong sales progress in Asia and Japan with good development in the Europe, Middle East and Africa region and the U.S., on the back of its new omnichannel services.
Among the other stocks on the rise were Joules Group, 2.3 percent to 2.83 euros; Marks and Spencer, 1.4 percent to 3.76 pounds, and Hermès International, 1.6 percent to 447 euros.
Among the stocks to lose the most ground were Tesco, 1.2 percent to 1.81 pounds; Ted Baker, 1.4 percent to 24.17 pounds, and Mulberry, 1.3 percent to 10.71 pounds.