Europe open: Stoxx rallies despite mixed Wall St

(Sharecast News) - European shares were higher at the open on Friday, after Wall St stocks finished in mixed fashion overnight on the back of gloomy comments about inflation from Walmart's boss and a tepid increase in retail sales. The pan-regional Stoxx 600 index was up 0.51% to 549.74 in early deals. Germany's DAX gained 0.79% to 23,869.

Walmart, which is the world's largest retailer, on Thursday said it would have to start raising prices later this month due to the high cost of tariffs.

"The chief driver of global markets this week has been improving US trade relations, especially with China. However, as we end the week, this is fading," said XTB research director Kathleen Brooks.

"On Thursday, the powerful uptrend in the Nasdaq took a breather, for the first time this week. Nvidia also fell slightly on Thursday, however, the chip maker has surged by nearly 15% in the past five trading sessions, so a pullback is to be expected."

In equity news, Cartier owner Richemont gained after reporting better-than-expected fourth-quarter sales, as rich shoppers as usual proved immune to economic turmoil.

Property developer Land Securities fell after full-year results underwhelmed the market.

Reporting by Frank Prenesti for Sharecast.com