Global Indices End the Day Mostly on an Upnote

Retail and luxury stocks put on a mixed show.

The news was generally positive on the global front, and the major indices reflected that by ending their trading sessions mostly on an up note.

In Asia, the Nikkei 225 in Tokyo slipped 0.09 percent to 9,525.32, while the Hang Seng Index in Hong Kong rose 0.2 percent to 22,323.94.

The European markets closed up amid hopes that the U.S. Federal Reserve will expand stimulus measures and as German investor confidence in November beat forecasts.

The FTSE 100 in London was up 0.1 percent to 5,924.97, while the CAC 40 in Paris advanced 0.9 percent to 3,646.15, and the DAX in Frankfurt expanded 0.8 percent to 7,589.75. The FTSE MIB in Milan leapt 1.5 percent to 15,585.61.


Retail and luxury stocks showed positive movement, with the day’s biggest gainers including Asos.com, which was up 3.8 percent to 25.61 pounds, after posting revenue growth of 30 percent in the first quarter. Inditex was up 2.8 percent to 103.60 euros; LVMH Moët Hennessy Louis Vuitton, 1.1 percent to 140 euros; and Yoox, up one percent to 11.71 euros.

Among the stocks losing ground were Ferragamo and Burberry, both down 0.9 percent to 16.90 euros and 13.04 pounds respectively. And Luxottica declined 0.7 percent to 31.17 euros.

In the U.S., the Dow Jones Industrial Average rose 0.6 percent to 13,248.44, while the S&P Retailing Industry Group slipped 0.4 percent to 538.93.

Many of the retail stocks rose in today’s trading session, with Urban Outfitters Inc. rising 4.5 percent to $38.65 and J.C. Penney Co. Inc. up 4.1 percent to $19.23. Caché Inc. was one of those that lost ground, slipping 6.1 percent to $2.