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.
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To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
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Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews