By and  on August 23, 2011

Stocks around the world ended mostly up Tuesday, as some investors picked up buying opportunities while others speculated about Federal Reserve Board action to stimulate the U.S. economy.

The speculation comes before Fed chairman Ben Bernanke is due to speak Friday in Jackson Hole, Wyo., at the central bank’s annual conference.

The Dow Jones Industrial Average rose 3 percent, or 322.11 points, to close at 11,176.76. The S&P 500 gained 3.4 percent, or 38.53 points, to 1,162.35, while the S&P Retail Index is up 4.3 percent, or 20.19, to 489.64.

Among the top retail movers were Ann Inc., up 7.8 percent, or $1.74, to $24.00; Nordstrom, Inc., 5.7 percent, or $2.16, to $39.94; Saks Inc., 8.2 percent, or 66 cents, to $8.74, and Tiffany & Co., 6.2 percent, or $3.68, to $62.72.

Among the top vendor movers were Coach Inc., up 8.6 percent, or $4.07, to $51.27; Fossil Inc., 16.5 percent, or $12.24, to $86.52; The Jones Group Inc., 9.7 percent, or 88 cents, to $9.93; Perry Ellis International Inc., 11.2 percent, or $1.85, to $18.39; Ralph Lauren Corp., 7.8 percent, or $9.40, to $130.51, and Under Armour Inc., up 11.96 percent, or $6.64, to $62.63.

In Asia, the Nikkei was up 1.22 percent to close at 8,733.01 and the Hang Seng Index rose 2 percent to 19,875.53.

The majority of Europe’s markets closed up Tuesday, also on investors’ continued hopes that the Fed chief will unveil measures later this week to stimulate the American economy.

The FTSE 100 in London closed up 0.7 percent, the CAC 40 in Paris finished up 1.2 percent and the DAX in Frankfurt finished up 1.2 percent. But the FTSE MIB in Milan was down 1.04 percent, as shares in the country’s banks fell sharply on worries over the European debt crisis.

Many retail and luxury stocks had a tough day. French Connection fell 2.3 percent, Unilever fell 2.8 percent, Yoox fell 3.2 percent and Tod’s fell 2.5 percent. Among the few risers were Prada, up 7.7 percent; Ferragamo, up 4.1 percent, and LVMH Moët Hennessy Louis Vuitton, up 1.6 percent.

In terms of data, Britain’s Confederation of British Industry said that of the 510 manufacturers it polled during August, 29 percent said their orders were above normal and 29 percent said they were below normal. The balance resulted in a rise of 1 percent, which meant “manufacturing order books are holding up,” the organization said. Investors are also looking ahead to Britain’s second-quarter GDP estimate figures, due to be published Friday.

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