U.S. retail stocks joined the major indices in logging small gains following a better-than-expected jobs report.
The S&P 500 Retailing Industry Group was up 0.3 percent to 941.56 on the day, leaving it ahead 0.5 percent for the week and now 0.2 percent ahead since the last trading day of 2013.
Meanwhile, the Dow Jones Industrial was up 0.2 percent to 16,452.72 and the S&P 500 ahead 0.1 percent to 1,878.04. The Dow was up 0.8 percent for the week but is off its Dec. 31 finish by 0.7 percent while the S&P, up 1 percent for the week, is ahead 1.6 percent for the year.
Investors seemed more focused on the Labor Department’s report of the addition of 175,000 jobs last month, higher than had been expected, than the tensions in Ukraine, which escalated as the weekend approached as a U.S. warship crossed the Bosphorous and headed to the Black Sea, according to Reuters. The U.S. military described it as a routine exercise but it sent a shiver through European markets, all of which ended the day with decreases of 1 percent of more.
Among U.S.-based fashion, retail and beauty equities tracked by WWD, Stage Stores and Revlon Inc. enjoyed large gains, rising 8.9 percent to $24.36 and 7.2 percent to $26.56, respectively.
Investors again pulled back from American Apparel Inc., sending shares down 4.1 percent to 79 cents, after its provided preliminary 2013 results and initial 2014 guidance. While the company signaled improvement in its bottom line this year following a net loss of about $122.1 million in 2013, it said that the NYSE MKT was considering delisting proceedings based on the difficult nature of its finances. Quiksilver Inc. was off 0.8 percent to $7.63 after its first-quarter results came in below Wall Street expectations.
Among the European indices, the DAX in Frankfurt lost the most, falling 2 percent to 9,350.75, while the CAC 40 in Paris was down 1.2 percent to 4,365.02. The FTSE 100 in London fell 1.1 percent to 6,712.67, while the FTSE MIB in Milan dipped 1 percent to 20,627.91.
On the week, the FTSE MIB was ahead 0.9 percent, putting it up 8.8 percent for the year to date. Frankfurt’s DAX slid 3.5 percent this week, putting it down 2.1 percent for the year, while the FTSE 100 was off 1.4 percent for the week and is off 0.5 percent so far in 2014. The CAC 40 was down 1 percent for the week but remains ahead 1.6 percent since Dec. 31.
Among the decliners in the fashion and luxury sector were Marks & Spencer, down 1.9 percent to 4.87 pounds; Burberry, which fell 2 percent to 14.95 pounds; Beiersdorf, which dipped 1.3 percent to 70.67 euros, and Safilo Group, which dropped 1.4 percent to 16.96 euros, after the firm on Friday reported a 40 percent decline in its net profits in 2013 to 15.5 million euros.
Those stocks that managed to make gains included Mulberry, up 1.8 percent to 6.61 pounds; Prada, which also closed up 1.8 percent to 57.05 Hong Kong dollars, and Geox, which finished up 9.9 percent to 3.36 euros, after forecasting an upturn in its sales for 2014 Thursday, and for its earnings before interest, taxes, depreciation and amortization break even during the year.
The pound traded for $1.67 against the U.S. dollar, while the euro changed hands for $1.38 and the Hong Kong dollar for $0.13.