Shares of Perry Ellis International Inc. scored the biggest fashion gain today and rose 3.2 percent as the WWD Global Stock Tracker ended its losing streak at two days and climbed above the 100 mark.
The 100 fashion, retail and beauty issues that comprise the tracker rose 1.2 percent to 100.98. This followed a 99.82 finish for the tracker on Tuesday, its first sub-100 resting point since Aug. 20. The tracker was introduced with a baseline mark of 100 on July 8.
U.S. stocks were buoyed by a surprisingly strong report on sales of new homes, and worldwide markets generally improved as concerns about rising tensions in the Middle East abated.
The tracker’s performance mirrored those of the Dow Jones Industrial Average, up 0.9 percent to 17,210.06, and the S&P 500, up 0.8 percent to 1,998.30. The retailing subset of the S&P, the S&P 500 Retailing Industry Group, gained 1.6 percent to close the day at 945.64.
With the exception of Tokyo’s Nikkei 225, which fell 0.2 percent after closing on Tuesday for celebration of the autumnal equinox, most major European and Asian indices regained some recently lost ground. The CAC 40 in Paris rose 1.3 percent while the SSE Composite in Shanghai rose 1.5 percent.
Among tracker stocks, Perry Ellis was up 66 cents to $21.56 after hitting a 52-week high of $21.71 in midday trading, while American Apparel Inc. advanced 2.9 percent to 79 cents.
U.S.-based companies dominated the leader board, with G-III Apparel Group Ltd. up 2.8 percent to $84.15, The TJX Cos. Inc. up 2.7 percent to $60.36, Under Armour Inc. up 2.7 percent to $68.68 and Tiffany & Co. up 2.6 percent to $98.50. L Brands Inc. shares moved ahead 2.6 percent as well, to $68, and hit a 52-week high of their own, $68.13, in late afternoon trading, and Luxottica Group SpA matched the percentage gain to close at 40.89 euros, or $52.53 at current exchange.
Among equities in decline, the biggest cuts hit Esprit Holdings Ltd., down 6.4 percent to 11.92 Hong Kong dollars, or $1.54, and Sears Holdings Corp., off 4.6 percent to $26.40. Quiksilver Inc. shares sacrificed 4.2 percent to close at $1.82 while shares of Li Ning Co. receded 3.4 percent to 4.32 Hong Kong dollars, or 56 cents, and Yoox.com pulled back 3.2 percent to 17.43 euros, or $22.39.
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