LONDON – Europe’s major markets were on the upswing in mid-morning trading on Tuesday, after a slow start to the week following France’s presidential election.
Milan’s FTSE MIB lead the charge, climbing 0.8 percent to 21,608.86, followed by the FTSE 100 in London, the CAC 40 in Paris and the DAX in Frankfurt, which were up 0.4 percent to 7,330.93, 5,405.21 and 12,746.38, respectively.
The euro traded at $1.09, while the pound fetched $1.29 and the Swiss franc equaled $1.01 at 11:00 a.m. CET.
Retail and luxury stocks were also on the rise, with the morning’s biggest gainers including Mulberry Group, up 2.5 percent to 11.17 pounds; Moncler, 1.4 percent to 22.33 euros; and Geox, 1 percent to 2.58 euros.
Among the few stocks that lost ground were Pandora, which fell 4.2 percent to 700.50 Danish kroner, or $103.18.
Emmanuel Macron’s win in the French elections had already been largely factored in by the markets. The CAC 40 in Paris closed down 0.9 percent at 5,382.95 on Monday.
Early Monday, the euro reached a high of $1.10, before falling back 0.35 percent to $1.09 later in the day.