LONDON-European stock markets made modest gains in mid-morning trading on Monday, following a poll in Greece that revealed mounting support for a pro-austerity political party.

 

Despite holidays in France and Germany on Monday, equity markets remained open. The FTSE 100 in London led gains, climbing 0.7 percent to 5,390.27, followed by the CAC 40 in Paris, which advanced 0.6 percent to 3,067.39.

 

The DAX also rose 0.6 percent, to 6,374.94, while the FTSE MIB in Milan was broadly flat for much of the morning, edging up 0.02 percent to 13,157.88 at 10:20 am British Summer Time.

 

The euro traded at $1.25 while the pound traded at $1.57.

Luxury and retail stocks were mostly on the upswing, with the biggest risers including Burberry Group, which advanced 1.5 percent to 13.92 pounds; French Connection, which was up 2.4 percent to 0.28 pounds; Italian eyewear maker Marcolin, which climbed 4 percent to 3.82 euros; and Hermès International, which rose 2 percent to 265.20 euros.

 

Among the few stocks that lost ground were Ferragamo, which fell 0.4 percent to 16.69 euros, and Brunello Cucinelli, which was down 1.7 percent to 10.50 euros.

 

A poll over the weekend showed that the momentum behind New Democracy, a pro-austerity, conservative party is growing in the run-up to a second round of Greek elections on June 17. The poll shows New Democracy pulling ahead of its main rival, the radical leftist party Syriza, whose leader Alexis Tsirpras has vowed to reject Greece’s bailout deal with the European Union, and remain in the single currency.

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