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European, U.S. Markets Close on a High

Retail and luxury stocks were mixed as European leaders met for a second day of budget talks.

LONDON — Europe’s stock markets closed on the upswing on Friday, while the Nasdaq and Dow Jones Industrial Average also made gains in half-day trading, buoyed by Black Friday sales. The CAC 40 in Paris and the DAX in Frankfurt both rose 0.9 percent to 3,528.80 and to 7,309.13 respectively, while the FTSE 100 in London and the FTSE MIB in Milan both advanced 0.5 percent to 5,819.14, and to 15,635.89 respectively.

The Nasdaq climbed 1.4 percent to 2,966.85, while Dow Jones was also up 1.4 percent to 13,009.68, as shoppers took advantage of Black Friday sales – some of which started even earlier — on Thursday — this year.

The euro traded at $1.29, while the pound traded at $1.60.

In Europe, retail and luxury stocks made strong gains, despite news that a two-day meeting of European Union leaders in Brussels yielded no agreement on the 2014-20 budget.

Among the biggest winners were Tod’s, which advanced 1.1 percent to 90.85 euros; LVMH Moet Hennessy Louis Vuitton, which advanced 1.3 percent to 130.55 euros; and Metro, which was up 1.4 percent to 22.16 euros.

In the U.S. the big gainers included Macy’s Inc, which advanced 1.8 percent to $41.73; Nordstrom, Inc., which climbed 1.7 percent to $56.55; Wal-Mart Stores Inc., which was up 1.9 percent to $70.20; Dollar General Corporation, which climbed 2.9 percent to $49.41; and Aeropostale, Inc. which rose 3.8 percent to $14.45. Other stocks on the rise included Ralph Lauren Corporation, up 2.2 percent to $159.6.