An impending nor’easter kept trading volume in New York on the light side today but didn’t prevent stocks and the WWD Global Stock Tracker from advancing.
The tracker, a group of 100 international fashion, retail and beauty stocks, advanced 0.67 points, or 0.6 percent, to an all-time high of 111.60, breaking the record set by Friday’s 110.93 finish. Over the last 90 days, the tracker has risen 11 percent.
European stocks initially pulled back as the week began on questions about the Greek economy following the election of Alexis Tsipras, of the anti-austerity Syriza party, but bounced back as the day proceeded. Frankfurt’s DAX garnered the strongest gain among major European exchanges, rising 1.4 percent to 10,798.33.
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In New York, the Dow Jones Industrial Average ended the day close to where it began it rising less than 0.1 percent to 17678.70. Dow trading was on the light side – 87.2 million shares as compared to a 10-day average of 96.4 million – as traders fretted about what would be a long commute home with the approach of Winter Storm Juno, expected to drop two feet of snow or more on some parts of the Middle Atlantic and New England, in many cases accompanied by vicious winds. Power outages and coastal flooding could linger into the latter part of the week, according to government officials.
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The S&P 500 rose 0.3 percent to 2057.09 and the S&P 500 Retailing Industry Group gained 0.4 percent to 1,030.31.12
The strongest performer among tracker stocks was China’s Youngor Group Co., up 10 percent to 12.71 yuan, or $2.04 at current exchange. Safilo Group SA gained 5.5 percent to close at 12.65 euros, or $14.18, while Ascena Retail Group Inc. advanced 5.3 percent to $11.83. Li & Fung Ltd. was up 4.7 percent to 7.77 Hong Kong dollars, or $1, and Yoox.com added 4 percent to close at 18.98 euros, or $21.27.
Two U.S.-based firms just missing the top five were Ann Inc. and Quiksilver Inc., both of which tacked on 3.3 percent to close at $34.90 and $1.90, respectively.
Sears Holdings Corp. and Express Inc. both were up 2.9 percent, to $35.14 and $13, respectively. No longer in discussions with Sycamore Partners, Express said it would redeem the remaining $200.9 million of its 8.75 percent senior notes due in 2018.
Avon Products Inc.’s shares expanded 2.3 percent, to $8.16. The company was reported to be discussing a possible transaction with private equity firm TPG last week.
Thirty-eight of the 100 tracker stocks had declines to start the week, with the largest coming from Shinsegae Co. Ltd., down 3 percent to 160,000 won, or $148.49.
Global Brands Group was down 2.7 percent to 1.42 Hong Kong dollars, or 18 cents, while Trinity Ltd. shares backtracked 2.6 percent to 1.52 Hong Kong dollars, or 20 cents, and Ted Baker plc shed 1.9 percent to close at 23.22 pounds, or $34.81.
The Bon-Ton Stores Inc. was also down 1.9 percent, to $5.24, and bearer shares of The Swatch Group lost 1.5 percent to close at 360.60 Swiss francs, or $409.40.
Coach Inc. shares were off 1.4 percent to $37.09. The company, originally scheduled to report second-quarter financial results Tuesday, rescheduled its earnings report until Thursday because of the winter storm.
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