Shares in fashion jewellery retailer Lovisa Holdings surged nearly 8% on Wednesday to lead gains across the S&P/ASX 200, extending a volatile stretch for the stock even though the company released no announcement or trading update to explain the move.

Lovisa shares climbed 7.88%, or $1.80, to close at $24.64, making the retailer the top-performing stock on the benchmark index for the session, according to trading data. The jump came on a day when the broader ASX 200 also advanced strongly, buoyed by a global rotation into defensive and value-oriented stocks as investors pulled back from technology and semiconductor names.

No company-specific announcement or catalyst was identified for Wednesday's rally, a pattern that has repeated several times in recent weeks as Lovisa shares have swung sharply on light trading volume rather than fresh news.

The move adds another chapter to what has been a turbulent year for the Sydney-based retailer. Lovisa's stock has traded in a wide band over the past 12 months, ranging between roughly $19.30 and $43.68, and remains well below the highs it touched earlier in the year even after Wednesday's gain.

Sentiment toward the stock has been mixed among analysts. Earlier this month, RBC Capital lowered........

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