LONDON — European stock markets were on the upswing in mid-morning trading on Thursday, with the CAC 40 in Paris and the FTSE 100 in London leading the way.

The French and British markets were up 0.6 percent, to 5,169.15 and to 6,980.35 respectively, while the FTSE MIB in Milan climbed 0.5 percent to 23,707.08 and the DAX in Frankfurt advanced 0.2 percent to 12,064.84.

The euro traded at $1.08 while the pound fetched $1.49 and the Swiss franc equaled $1.04 at 11:15 a.m. CET.

Retail and luxury stocks were mostly up, with the morning’s biggest gainers including Asos.com, 4.1 percent to 40.90 pounds; Italia Independent Group, 2.2 percent to 36.80 euros; Aeffe, 3.2 percent to 2.68 euros; Compagnie Financière Richemont, 3.2 percent to 83.20 Swiss francs; Moncler, 2.3 percent to 16.34 euros; and Mulberry Group, 2.8 percent to 8.99 pounds after the group announced that year-end profits would be slightly ahead of market expectations.

Among the stocks that lost ground was Next, down 1.8 percent to 69.55 pounds.

Click Here for the WWD Global Stock Tracker >>