Retail stocks slipped modestly on Wall Street today as global stock markets posted generally tepid gains.
The S&P 500 Retailing Industry Group fell 0.2 percent to 921.11 as the Dow Jones Industrial Average inched up just 0.03 percent to 16,025.53.
The Wet Seal Inc. was one of the day’s biggest decliners, falling 4.7 percent to $2.61. Joining Wet Seal in the down column was Quiksilver Inc., which retreated 4.4 percent to $8.01.
Among the fashion companies that did gain ground were Coldwater Creek, rising 4.7 percent to 89 cents; J.C. Penney Co. Inc., up 4.3 percent to $8.43, and Ann Inc., ahead 3.6 percent to $35.66.
Twitter Inc. had a standout day in the tech sector, jumping 9.3 percent to $49.14, after the microblogging site switched up how it handles advertisements.
The trading day began in Asia with the Nikkei 225 in Tokyo rising 2.3 percent to 15,650.21, while the Hang Seng Index in Hong Kong gained 0.3 percent to 23,811.17.
That was followed by the European stock markets, which made mostly marginal gains.
Milan’s FTSE MIB led the way, rising 0.9 percent 18,288.09, followed by the DAX in Frankfurt, up 0.3 percent to 9,195.17. The FTSE 100 in London and the CAC 40 in Paris both advanced 0.1 percent to 6,559.48 and to 4,134.10 respectively.
Retail and luxury stocks were mostly up, with the day’s biggest gainers including Brunello Cucinelli, 2.3 percent to 25.48 euros; Inditex, 2 percent to 115.95 euros; Ferragamo, 2.1 percent to 28.55 euros, and Tod’s, 2.1 percent to 123.20 euros.
Among the stocks that lost ground were Marks & Spencer Group, down 2.1 percent to 4.61 pounds; Geox, 1.2 percent to 2.52 euros, and Gemfields, 4.1 percent to 0.35 euros.