LONDON – Europe’s stock markets were on the rise in mid-morning trading on Wednesday, with the CAC 40 in Paris leading the way.
The French market was up 1.2 percent to 4,806.93, followed by the DAX in Frankfurt, 1 percent to 11,650.71, and the FTSE MIB in Milan, 0.9 percent to 18,754.01. The FTSE 100 in London rose 0.8 percent to 7,157.99.
The euro traded at $1.07, while the pound fetched $1.25 and the Swiss franc equaled $1.01 at 11:40 a.m. CET.
Retail and luxury stocks were also on the upswing, with the morning’s biggest gainers including Salvatore Ferragamo, 5.3 percent to 25.74 euros after the company reported a 1 percent uptick in sales growth in 2016, with an acceleration in the final quarter.
British high-street retailer Next climbed 1.4 percent to 38.85 pounds, while Debenhams advanced 2.2 percent to 53.70 pounds, and Unilever, 1.1 percent to 37.90 euros.
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Among the few stocks that lost substantial ground were Koovs.com, 6.4 percent to 0.45 pounds; Safilo Group, 7.1 percent to 6.38 euros; Geox, 1.1 percent to 1.98 euros, and Joules Group, 2.5 percent to 2.11 pounds, despite announcing a 16.2 percent rise in revenues, year-on-year, for the 26 weeks to Nov. 27.