LONDON — European stock markets were on the upswing in midmorning trading on Wednesday, with the DAX in Frankfurt leading the way.
The German market rose 1.3 percent to 10,028.02, followed by the FTSE 100 in London and the CAC 40 in Paris, which were each up 0.9 percent to 6,381.95 and to 4,702.51, respectively. Milan’s FTSE MIB climbed 0.4 percent to 22,260.90.
The euro traded at $1.12, while the pound fetched $1.52 and the Swiss franc equaled $1.03 at 10:40 a.m. CET.
Retail and luxury stocks put on an uneven performance, with the morning’s biggest risers including Unilever, 3.3 percent to 37.45 euros; French Connection Group, 11.4 percent to 0.25 pounds; Salvatore Ferragamo, 2.9 percent to 25.73 euros, and Safilo Group, 1.6 percent to 11.57 euros.
Kering was up 1.1 percent to 155.60 euros following the news it had named a new artistic director, Demna Gvasalia, founder of the Paris label Vêtements. Gvasalia will replace Alexander Wang, who staged his final show for the house last week during the Paris collections.
Among the stocks that lost the most ground were Marks & Spencer Group, 2.8 percent to 5.05 pounds; Jimmy Choo, 3 percent to 1.38 pounds, and Gemfields, 6.6 percent to 0.56 pounds.