Global trading was mixed on Tuesday, but most indexes ended the day’s trading sessions up.
That’s because most investors are betting that central bank stimulus will continue. That has many investors placing their bets in the equity markets, given the low returns on fixed-rate securities.
In Asia, the Nikkei 225 in Tokyo was down 0.2 percent to 14,758.42, while the Hang Seng Index in Hong Kong slipped 0.3 percent to 22,930.28.
European stock markets initially traded down, but then took their cue from their counterparts in the U.S. and made gains at the close of trading.
The FTSE MIB in Milan and the FTSE 100 in London were both up 0.8 percent, to 17,315.25 and 6,686.06, respectively; the DAX in Frankfurt rose 0.7 percent to 8,339.11, and the CAC 40 in Paris 0.5 percent to 3,966.06.
The Italian luxury brand’s first-quarter profits outstripped analysts’ estimates and almost doubled in the three-month period to 24.3 million euros, or $32 million.
LVMH Moët Hennessy Louis Vuitton was up 2 percent to 135.75 euros; the Swatch Group, 1.6 percent to 98.25 Swiss francs, and Gemfields 4.3 percent to 0.24 pounds.
Among the stocks that lost the most ground were Burberry Group and Mulberry Group, which both fell 1 percent, to 13.94 pounds and 8.99 pounds, respectively. Marks and Spencer Group retreated 0.7 percent to 4.21 pounds.
In the U.S. the Dow Jones Industrial Average rose 0.8 percent to 15,215.25, while the S&P 500 Retailing Industry Group gained 1.2 percent to 788.26.
The three top gainers were Zale Corp., up 12 percent to $5.68; American Apparel Inc., up 8.8 percent to $1.97, and Pacific Sunwear of California Inc., up 7.1 percent to $3.03.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion