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.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)