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U.S. Stocks Upbeat On Positive Jobs Data

Stronger-than-forecast U.S. jobs data pushes markets higher.

LONDON — As the U.S. market reopened after the Independence Day holiday, better-than-forecast employment data for June from the U.S. Labor Department boosted optimism on Wall Street and drove the Dow Jones Industrial Average up 0.5 percent to 15,064, while the S&P 500 Retailing Industry Group managed to add 0.5 percent to 1,624.02 at 12.30 p.m. EST.

Among fashion, retail and beauty stocks, Revlon led the gainers, advancing 6.3 percent to $24.59, followed by Bon Ton Stores, up 5.2 percent to $19.59. Abercrombie & Fitch Co. rose 3 percent to $48.97.

Stocks losing ground during Friday’s session included Inter Parfums Inc., dropping 2.1 percent to $29.60; Saks Incorporated, 0.8 percent to $13.88; and American Apparel, 0.6 percent to $1.80.

European stock markets ended the day on a down note, led by the DAX in Frankfurt, which lost 2.4 percent to 7,806.00 after a report showed German factory orders declined for a second month in May.

The FTSE MIB in Milan slid 1.7 percent to 15,533.69; Paris’ CAC 40 lost 1.5 percent to 3,753.85; and London’s FTSE 100 contracted 0.7 percent to 6,375.52.

The euro closed the day valued at $1.31 to the dollar. The pound was worth $1.51, and the Swiss franc equaled $1.07.

Retail and luxury stocks showed mixed results, with L’Oréal down 1.7 percent to 126.70 euros; Swatch Group, 1.5 percent to 91.60 Swiss francs; and Compagnie Financière Richemont, 1.2 percent to 84.45 Swiss francs.  

Among the stocks making gains were Yoox, up 4.8 percent to 18.97 euros, and Mulberry, which advanced 0.8 percent to 9.18 pounds.