LONDON — European stock markets were on the uptick in mid-morning trading on Wednesday, with the CAC 40 in Paris leading the way.
The French market was up 1.3 percent to 4,629.51, followed by Milan’s FTSE MIB, 1.1 percent to 22,134.65, and the DAX in Frankfurt, 0.8 percent to 10,272.40. The FTSE 100 in London climbed 0.7 percent to 6,179.63.
The euro traded at $1.13, while the pound fetched $1.54, and the Swiss franc equaled $1.03 at 11:00 a.m. CET.
Investors’ eyes were focused on the dollar ahead of a possible interest rate rise in the U.S.
Retail and luxury stocks were also on the rise, with Compagnie Financière Richemont advancing 7 percent to 77.10 Swiss francs after a weaker euro, and a pickup in retail in Mainland China, boosted sales 16 percent in the first five months.
Other stocks on the rise included Kering, 4.3 percent to 149.75 euros; Burberry Group, 2.6 percent to 14.41 pounds; Geox, 3.3 percent to 3.70 pounds; LVMH Moet Hennessy Louis Vuitton, 4.1 percent to 156 euros; Salvatore Ferragamo, 3.5 percent to 24.24 euros; and Moncler, 3.5 percent to 16.09 euros.
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Among the few stocks that lost ground in mid-morning were Mulberry Group, 0.1 percent to 8.99 pounds; French Connection Group, 1.8 percent to 0.28 pounds; and MySale Group, 2.5 percent to 0.55 pounds.
Prada shares, quoted on the Hong Kong Stock Exchange, climbed nearly 10 percent to 33.95 Hong Kong dollars, or $4.38, on the back of a 23 percent drop in first-half profits, and new plans to move more upmarket.