LONDON — European stock markets were on the uptick in mid-morning trading on Monday, boosted by new financial stimulus measures unveiled by China.
The DAX in Frankfurt led the pack, climbing 1.3 percent to 12,025.86. The FTSE MIB in Milan gained 1 percent to 23,223.71, followed by the CAC 40 in Paris, which advanced 0.9 percent to 5,077.97, and the FTSE 100 in London, up 0.7 percent to 6,901.00.
The euro traded at $1.09, while the pound fetched $1.49, and the Swiss franc $1.03, at 11:30 a.m. CET.
Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Asos.com, 3.3 percent to 35.97 pounds; Debenhams, 2 percent to 0.77 pounds; Marks & Spencer, 1.9 percent to 5.40 pounds and Safilo Group, 2.1 percent to 14.36 euros.
Yoox Group advanced 8 percent to 22.76 euros, buoyed by unconfirmed reports that it has re-ignited talks to purchase Net-a-Porter Group.
China has unveiled measures to ensure that money can move more easily between it, Hong Kong and Western nations, while the country’s central bank has indicated that it is looking towards easing its monetary policy.