Most global stock indices ended Wednesday’s trading sessions up.
Tokyo’s Nikkei 225 was one of the few indices that fell, closing down 0.5 percent to 8,746.87. Hong Kong’s Hang Seng Index rose 0.2 percent to 20,888.28.
European stock markets closed on a more optimistic note than they began on Wednesday. The FTSE 100 rose 0.3 percent to 5,825.81. In Milan, the FTSE MIB advanced 0.3 percent to 15,535.09 and, in Frankfurt, the DAX grew 0.2 percent to 7,322.08. The CAC 40 in Paris dropped 0.2 percent to 3,406. 02.
Markets were responding to positive employment data from the U.S. The ADP jobs report showed private payrolls expanded by 162,000 in September, more than the 153,000 reportedly expected by analysts.
It was a mixed afternoon for luxury and retail stocks. British supermarket chain Tesco fell 2.6 percent to 3.28 pounds, or $5.27 at current exchange, as it reported a drop in first-half profit as a result of a challenging global economic environment. It was the first decrease in profits in almost 20 years.
Other brands that lost ground included Swatch Group, down 2.1 percent to 65.75 Swiss francs, or $70.01; LVMH Moët Hennessy Louis Vuitton, 1.6 percent to 118.85 euros, or $153.29, and Compagnie Financière Richemont, 1.2 percent to 57.95 Swiss francs, or $61.71.
On the rise were Brunello Cucinelli, up 4.2 percent to 14.41 euros, or $18.59; Mulberry, 2.5 percent to 12.30 pounds, or $19.77, and Yoox, 1.1 percent to 10.30 euros, or $13.30.
In the U.S., the Dow Jones Industrial Average rose 0.1 percent to 13,494.61. The S&P Retail Index gained 1.3 percent to 662.71.
One of the day’s top gainers was The Bon-Ton Stores Inc., rising 7.6 percent to $11.96. Other retail shares that rose include American Eagle Outfitters Inc., climbing 4 percent to $21.85; Kohl’s Corp., up 2.6 percent to $52.24, and Macy’s Inc., which rose 2.1 percent to $39.49. Many retailers report September same-store sales results Thursday.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)