LONDON European stock markets made modest gains in mid-morning trading on Thursday, with the FTSE MIB in Milan leading the way.

The Italian market was up 0.6 percent to 18,245.65, followed by the DAX in Frankfurt, 0.4 percent to 11,030.69, and the CAC 40 in Paris, 0.2 percent to 4,702.83. The FTSE 100 in London was flat at 6,905.15.

The euro traded at $1.07, while the pound fetched $1.26, and the Swiss franc equaled $0.99 at 12:00 p.m. CET.

Retail and luxury stocks were uneven, with the morning’s biggest gainers including Koovs.com, 7.2 percent to 0.52 pounds; Geox, 1.4 percent to 1.95 euros; Debenhams, 1.9 percent to 0.57 pounds, and Kering, 1.1 percent to 210.90 euros.

Among the stocks that lost the most ground were Italian Independent Group, 3.6 percent to 3.15 euros; French Connection, 1.5 percent to 0.34 pounds, and Gemfields, 1.7 percent to 0.49 pounds.

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