LONDON — Europe’s stock markets all headed up in trading Wednesday morning.
The FTSE MIB in Milan gained 0.9 percent to 23,966.71, while the DAX in Frankfurt and the CAC 40 in Paris both rose 0.7 percent, to 12,312.68 and to 5,253.57 respectively. The FTSE 100 in London gained 0.5 percent to 7,109.37.
Investors were upbeat ahead of a European Central Bank meeting set for Wednesday, when the bank is expected to keep interest rates unchanged and continue with its quantitative easing program, according to Reuters.
Fashion, luxury and retail stocks were largely positive, too.
Risers included Hennes & Mauritz, 1.2 percent to 357.20 Swedish kronor after the Swedish fashion retailer on Wednesday reported a 10 percent in rise in sales in local currencies in March. LVMH Moët Hennessy Louis Vuitton rose 1.3 percent to 170.35 euros, after the luxury group on Tuesday reported a 16 percent rise in its Q1 revenues to 8.32 billion euros, or $9.39 billion. Gemfields gained 11.4 percent to 0.66 pounds, as the ruby and emerald mining firm said Tuesday that its production of rubies rose 27 percent to 1.4 million carats in the year ending March 31, while its emerald and beryl production surged to 9.9 million carats over the period, from 3.6 million in the previous year.
Burberry rose 0.6 percent to 17.95 pounds after reporting a 10 percent rise in its second half revenues Wednesday to 1.42 billion pounds, or $2.2 billion.
Fallers numbered The Mysale Group, 2.2 percent to 0.55 pounds; Italia Independent, 0.6 percent to 37.65 euros; and Yoox Group, 0.5 percent to 29.03 euros.
At 11:40 a.m. CET, the pound traded for $1.47 while the euro went for $1.06 and the Swedish krona for $0.11.