European Markets Make Modest Gains


LONDON — European stock markets were up in mid-morning trading on Wednesday, ahead of guidance expected from the U.S. Federal Reserve regarding the country’s interest rates.

The FTSE MIB in Milan and the CAC 40 in Paris both advanced 0.4 percent to 23,636.12 and to 5,191.72, respectively, followed by the FTSE 100 in London, up 0.3 percent to 7,049.20, and the DAX in Frankfurt, 0.2 percent to 11,835.75.

The euro traded at $1.09, while the pound fetched $1.53 and the Swiss franc equaled $1.05 at 11:10 a.m. CET.

Retail and luxury stocks were mostly up, with the morning’s biggest gainers including British fast-fashion retailer Next, which advanced 3.6 percent to 74.25 pounds after the store said full-price sales climbed 3.2 percent and total sales were up 4.1 percent in the first quarter, ahead of the company’s guidance in March.

Hermès International advanced 3.3 percent to 347.25 euros after the company…

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