LONDON — European stock markets made modest gains in midmorning trading on Monday, with the exception of the FTSE MIB in Milan, which was flat.
Frankfurt’s DAX climbed 1 percent to 10,511.02; followed by the FTSE 100 in London, 0.9 percent to 6,959.47, and the CAC 40 in Paris, 0.3 percent to 4,460.06. The Italian market was flat at 16,395.74.
The euro traded at $1.12, while the pound fetched $1.30 and the Swiss franc equaled $1.03 at 10:05 a.m. CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Zalando, 2.6 percent to 36.70 euros; SuperGroup, 2.2 percent to 15.36 pounds; French Connection, 3.2 percent to 0.36 pounds, and Koovs.com, 1.7 percent to 0.60 pounds.
Among the few stocks that lost the most ground were Moncler, 1.1 percent to 15.03 euros; and Tod’s, 0.6 percent to 46.70 euros.
Markets are in for an uneven week as investors digest British Prime Minister Theresa May’s announcement that she plans to trigger the Brexit process by the end of March, with the intention of leaving the European Union by 2019.
Eyes are also on the embattled Deutsche Bank, which is negotiating with the U.S. Department of Justice over a multibillion dollar fine for misselling mortgage-backed securities.