LONDON — European stock markets edged up at the close of trading on Thursday as the region’s leaders kicked off two-days of budget talks.
The FTSE MIB in Milan gained the most, climbing 1 percent to 15,553.62, followed by the DAX in Frankfurt, which advanced 0.8 percent to 7,244.99. The FTSE 100 in London climbed 0.7 percent to 5,791.03, followed by the CAC 40 in Paris, which was up 0.6 percent to 3,498.22.
The euro traded at $1.28 while the pound traded at $1.59 and the Swiss franc traded at $1.06.
The U.S. markets are closed today, and will be open for trading for a half-day on Friday due to the Thanksgiving holiday.
Retail and luxury stocks were mostly up with the markets, with the day’s biggest gainers including Hugo Boss, which advanced 1.7 percent to 80.69 euros; Inditex, which was up 1.8 percent to 103 euros; and Metro AG, which advanced 2.6 percent to 21.86.
Among the few stocks that lost ground was French Connection, which was down 3 percent to 0.24 pounds.
European leaders are meeting in Brussels today and tomorrow to hammer out the region’s 2014-20 budget.
The U.K., Germany, Sweden and the Netherlands are opposed to a proposed 5 percent hike in the new budget, compared with the 2007-13 period.
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion
“I’m Russian and I love to use all these little tricks that I got from my grandma or my mom. We didn’t have a lot of money for creams or anything like that so we would use a garden as a beauty treatment regime. We’d put cucumber in the fridge and do a cucumber mask,” says model @irinashayk on one of her beauty hacks. WWD asked celebs what their go-to self-care rituals are. See what Naomie Harris, Freida Pinto and more said on WWD.com. #wwdeye #wwdbeauty (📷: @zefashioninsider)
Exclusive: @viktorandrolf are teaming up with @Zalando on a collection made from leftover clothing. The lineup, which lands at the retailer February 1, includes 17 pieces adorned with sliced up and repurposed overstock from the retailer’s private label collection. Pictured here is a look from the collection –– see more on WWD.com. #wwdfashion #wwdnews
@duewestnyc is the newest bar joining the collection of intimate neighborhood-focused spaces in the West Village. The cocktail menu, which includes bitters and syrups made in-house, offers a “Build Your Own Old-Fashioned” – like the one pictured here – where guests can choose from a list of spirits and unexpected sugars and bitters. #wwdeye
Spotted at last night’s National Board of Review gala in NYC: Angelina Jolie. Jolie – along with Meryl Streep, @lupitanyongo and more – continued the all-black dress code from Sunday’s Golden Globes. #wwdeye (📷: @lexieblacklock)