Global equity markets ended September’s last trading session mostly on the down side, with a few beating the trend.
In Japan, the Nikkei 225 slipped 0.9 percent to 8,870.16, while Hong Kong’s Hang Seng Index was up 0.4 percent to 20,840.38.
All of Europe’s indexes ended the week down, after a positive start to the day.
The CAC 40 in Paris led the falls, dipping 2.5 percent to 3,354.82, while the FTSE MIB in Milan fell 2.3 percent to 15,095.84. The DAX in Frankfurt dropped 1 percent to 7,216.15 while the FTSE 100 in London was down 0.7 percent to 5,742.07.
Among the factors said to be affecting investor sentiment were the release Friday of France’s 2013 budget, which included the confirmation of a 75 percent tax rate for individuals earning more than 1 million euros, or $1.29 million, a year. Meanwhile, Spain’s government said Friday that according to an independent audit, the country needs an injection of close to 60 billion euros, or $77.3 billion, to recapitalize its banking system.
It was a mostly downbeat day for fashion, luxury and retail stocks. Those that fell the most included Mulberry, down 2.8 percent to 11.19 pounds; Safilo Group, which lost 1.7 percent to 5.95 euros; Ferragamo, down 1.5 percent to 16.19 euros and Compagnie Financiere Richemont, which slid 1.7 percent to 56.40 Swiss francs.
The few risers included Brunello Cucinelli, up 0.6 percent to 13.45 euros; Inditex, which gained 0.5 percent to 96.63 euros, and Swatch Group, up 0.2 percent to 65.35 Swiss francs.
In the U.S., the Dow Jones Industrial Average fell 0.4 percent to 13,437.13, while the S&P Retail Index slipped 0.3 percent to 655.46.
American Apparel Inc. fell 7.2 percent to $1.54. Most other retailers were off as well, with Sears Holdings Corp. down 1.5 percent to $55.49 now that it’s trading over-the-counter following the spin-off of Sears Hometown.
A few managed to make some gains, such as New York & Co., up 1.4 percent to $3.75, and Gap Inc., up 1.1 percent to $35.78.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia