Europe open: Stoxx touches fresh high before slipping; Hermes pleases

(Sharecast News) - European shares touched the heights of yet another intra-day high at the open on Friday before slipping into the red. The pan-regional Stoxx 600 was down 0.14% in early deals at 552.94, having reached 553.74 at the start of the session. All major bourses were lower.

After a heavy week of economic and corporate data, traders will be looking at final eurozone GDP figures for the fourth quarter of 2024 and US retail sales numbers.

In equity news, shares in posh fashion brand Hermes jumped as it reported a better-than-expected rise in fourth-quarter sales. The news lifted shares in brands favoured by the wealthy such as Richemont, Burberry, LVMH and Christian Dior.

Tomra Systems topped the Stoxx after the Norwegian recycling specialist posted strong fourth-quarter results.

Reporting by Frank Prenesti for Sharecast.com