LONDON — Europe’s stock markets were on the upswing Wednesday for a second day running, with Milan’s FTSE MIB leading the way. They started the week on the downslide following Britain’s vote to exit the European Union, but rapidly recovered on Tuesday and have been maintaining their gains.
The Italian market was up 1.9 percent to 15,901.47 in midmorning trading; followed by the FTSE 100 in London, 1.7 percent to 6,243.66, and the CAC 40 in Paris, 1.5 percent to 4,151.79. The DAX in Frankfurt climbed 1.2 percent to 9,562.17.
The euro traded at $1.11, while the pound rose to $1.34 and the Swiss franc equaled $1.02 at 10:35 a.m. CET.
Retail and luxury stocks also built on gains made earlier in the week, with the morning’s biggest risers including Burberry Group, 3.3 percent to 11.36 pounds; J. Sainsbury, 2.5 percent to 2.28 pounds; Ted Baker, 8.2 percent to 23.71 pounds; Marks & Spencer Group, 2.4 percent to 3.09 pounds, and Safilo Group, 2.6 percent to 6.43 euros.
Among the morning’s few fallers were Jimmy Choo, 2.6 percent to 1.03 pounds; Italia Independent Group, 13.6 percent to 7.78 euros; Joules, 1.4 percent to 1.73 pounds, and Hugo Boss, 1.3 percent to 48.53 euros.