LONDON — Europe’s markets all finished the day up Monday.
The FTSE MIB in Milan and the DAX in Frankfurt both gained 0.7 percent, to 21,622.34 and 10,108.61, respectively. The CAC 40 in Paris closed up 0.6 percent to 4,549.64 and the FTSE 100 in London finished up 0.5 percent to 6,074.52. The U.S. markets were closed Monday for the Labor Day holiday.
Europe’s markets gained ground even as Asia’s stocks closed down.
The Shanghai Composite Index fell 2.5 percent to 3,080.42, while Hong Kong’s Hang Seng Index lost 1.2 percent to 20,583.52. The Nikkei 225 in Japan was the exception, finishing up 0.4 percent to 17,860.47.
The markets in China and Hong Kong finished down on Monday as China lowered its GDP growth figure for 2014 to 7.3 percent from 7.4 percent.
It was a largely positive day for fashion, luxury and retail stocks in Europe.
Among the highest risers were Jimmy Choo, 4.6 percent to 1.57 pounds, or $2.40, as Liberum Capital issued a research note Monday reiterating its “buy” rating on the stock; Salvatore Ferragamo, 4 percent to 23.42 euros, or $26.16; Yoox Group, 2.3 percent to 28 euros, or $31.28; and Tod’s, 2.3 percent to 79.50 euros, or $88.52. All conversions are at current rate of exchange.
The few decliners numbered Associated British Foods, 0.8 percent to 31.13 pounds, or $47.58, at current rate of exchange, after the firm issued a trading update Monday, noting that the fall in operating profit in its sugar business, along with the effect of a strong pound, have had an adverse impact of 30 million pounds, or $45.5 million, which will be reflected in the group’s adjusted operating profit for the year to Sept. 12.
In contrast, sales at Primark, ABF’s fast fashion retailer, are expected to be 13 percent up on the previous year at constant exchange rates, 8 percent at actual exchange rates.
Also down were MySale Group, 1.5 percent to 0.54 pounds, or 83 cents; French Connection, 1.6 percent to 0.31 pounds, or 47 cents, and Inditex, 0.2 percent to 28.52 euros or $31.86. All conversions are at current rate of exchange.
At 7.30 p.m. CET, the pound traded for $1.52, while the euro changed hands for $1.11.