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.
Retail and luxury stocks were mostly on the uptick, with the day’s biggest gainers including Ferragamo, which advanced 3.9 percent to 24 euros, following bullish first-quarter results earlier this week.
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.