LONDON – European stock markets were on the rise in mid-morning trading on Wednesday, with the exception of the FTSE 100 in London, which was down 0.1 percent to 7,141.66.
The FTSE MIB in Milan was the biggest gainer, rising 1.2 percent to 19,671.39, followed by the CAC 40 in Paris, 0.4 percent to 5,009.14, and the DAX in Frankfurt, 0.3 percent to 12,034.82.
The euro traded at $1.07, while the pound fetched $1.27, and the Swiss franc equaled $1.00 at 12:25 p.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest risers including the British retailer Joules, 3.6 percent to 2.73 pounds; supermarket J Sainsbury, 3.3 percent to 2.63 pounds; Next, 2.3 percent to 42.85 pounds; and Marks & Spencer Group, 2.1 percent to 3.61 pounds.
Among the morning’s biggest fallers were Burberry 5.6 percent to 16.05 pounds, after the group reported a slowdown in comparable sales growth in the fourth quarter.
Other stocks in retreat were Zalando, 4.8 percent to 38.21 euros, after the company said that first quarter EBIT would be below last year’s figure despite double-digit sales growth in the period.