LONDON — Europe’s stocks all made strong gains Thursday morning.
The DAX in Frankfurt rose 2 percent to 10,252.67, while the FTSE 100 in London and the CAC 40 in Milan each advanced 1.7 percent, to 6,188.79 and 4,632.96, respectively. The FTSE MIB in Milan was up 1.3 percent to 21,883.01.
Reports indicated that investors were upbeat ahead of a European Central Bank meeting today, with the bank expected to ramp up its bond-buying program in the wake of the China’s economic slowdown, and to keep interest rates unchanged.
Markets in China and Hong Kong were closed for public holidays Thursday.
Fashion, luxury and retail stocks were largely up, too.
Yoox Group saw its shares climb 5.9 percent to 28.10 euros, following Wednesday’s news that Natalie Massenet had resigned as executive chairman of the soon to be merged Net-a-porter Yoox Group.
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Also up was Italia Independent, 9.8 percent to 30.60 euros, following the news Thursday that the firm has signed a four-year agreement for the production and distribution of Adidas Originals eyewear globally; Hermès International, 2.8 percent to 319.35 euros, and Moncler, 3.6 percent to 16.23 euros.
Asos gained 1.4 percent to 29.41 pounds, after losing ground Wednesday on the news that founder Nick Robertson had stepped down as chief executive officer.
The few fallers numbered Mulberry, 0.3 percent to 9.00 pounds; Gemfields, 2.8 percent to 0.61 pounds, and Jimmy Choo, 1.2 percent to 1.51 pounds.
At 11:52 a.m. CET, the pound traded for $1.66, while the euro went for $1.31.