LONDON — European stock markets edged up in mid-morning trading on Wednesday, with the FTSE 100 in London leading the way.
The British market was up 0.6 percent to 6,704.31, followed by the DAX in Frankfurt, 0.3 percent to 10,414.55, and the FTSE MIB in Milan, 0.1 percent to 16,566.02. The CAC 40 in Paris was broadly flat at 4,383.92.
The euro traded at $1.12, while the pound fetched $1.33, and the Swiss franc equaled $1.03 at 11:45 a.m. CET.
Retail and luxury stocks were uneven, with the morning’s biggest fallers including Hermès, which sank 7 percent to 360.10 euros despite a 13 percent leap in net profits in the fist half — and record operating margin of 33.9 percent of sales. Investors frowned on a lack of clear sales forecast from the company in the increasingly gloomy luxury sector.
Compagnie Financière Richemont was down 3 percent to 58 Swiss francs after warning that operating profit in the first six months would be down 45 percent.
Mulberry Group fell 2.3 percent to 11 pounds; Swatch Group, 2.4 percent to 52.75 Swiss francs, and Debenhams, 2.3 percent to 0.59 pounds.
Among the stocks that gained ground were Asos.com, 1.6 percent to 46.24 pounds; Safilo Group, 1.6 percent to 8.20 euros, and Koovs.com, 3.9 percent to 0.66 pounds.