By  on April 26, 2010

Retail stocks again added to their value Friday, putting them up 4 percent for the week and 20.3 percent for the year.

After starting Friday’s session in negative territory, the S&P Retail Index rebounded in afternoon trading and rose 0.5 percent to 494.59, producing its third consecutive positive week and making for 10 up weeks out of the last 11. Simultaneously, the Dow Jones Industrial Average crossed Friday’s finish line with its eighth consecutive week of gains. The Dow closed up 0.6 percent at 11,204.28, rising 1.7 percent for the week and 7.4 percent for the year.

Of 172 issues tracked by WWD, 138 had gains and 28 had losses as six finished the week unchanged.

Lingering questions about the Greek debt crisis pressured European markets last week. Despite up days on Friday, after the Greek government formally requested relief from the European Union and the International Monetary Fund, the FTSE 100 in London and CAC 40 in Paris ended the week with declines of 0.4 and 0.9 percent, respectively. The DAX in Frankfurt enjoyed a 1.3 percent gain for the week, all of it coming from Friday’s 1.5 percent advance.

Asian markets continued their recent downward trend, with the Nikkei 225 falling 0.3 percent on Friday and 1.7 percent for the week, while Hong Kong’s Hang Seng Index fell 1 percent on Friday and 2.8 percent for the week. Shanghai’s SSE Composite Index gave back 0.5 percent on Friday to finish the week off 4.7 percent. The SSE is off nearly 9 percent for the year to date.

Among numerous retail issues hitting 52-week highs on Friday, shares of Saks Inc. were up 64 cents, or 6.7 percent, to $10.19, 10 cents below their high point for the day and year.

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