(Reuters) – European shares took a breather on Friday and were on track for their eighth straight week of gains, while luxury stocks jumped after robust earnings from Birkin bag maker Hermes.
The pan-European STOXX 600 index was down 0.1%, as of 0811 GMT. The index has closed at a record high for the past four sessions.
The benchmark was on track for its eighth straight weekly gain, its longest winning streak since March 2024.
Hermes rose 4.2% after the French luxury group reported an 18% rise in fourth-quarter sales, showing robust appetite from wealthy shoppers for expensive luxury items such as its Birkin bags.
Other luxury goods companies also rose on the day, with Burberry jumping 1.6%, Richemont up 1.4%, LVMH adding 1.7% and Kering advancing 1.4%.
This gains lifted the European personal goods index by 1.1%.
In contrast, heavyweight healthcare firms lost 0.7%, dragged down by a 6% fall in Fresenius Medical Care after U.S.-listed Dialysis DaVita projected annual profit below estimates. DaVita’s shares were down 11% in after-hours trading on Thursday.
Meanwhile, U.S. President Donald Trump did not immediately impose reciprocal tariffs on Thursday, suggesting room for negotiations.
(Reporting by Nikhil Sharma; Editing by Sonia Cheema)
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