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STOXX DOWN, LUXURY SECTOR BOOSTED BY HERMES

Europe's STOXX 600 is slightly lower on Friday, giving back some gains from the past week which has seen the index surge to a record high on expectations of a ceasefire in Ukraine and as U.S. import tariffs remain on hold for now.

Trump on Thursday announced plans for reciprocal tariffs on U.S. trade partners but said they wouldn't begin until April at the earliest.

European shares have mostly taken the news in their stride. The STOXX 600 .STOXX is down less than 0.2% but still set for a weekly rise of almost 1.9%, which would mark the index's eighth straight positive week.

Britain's FTSE .FTSE and Germany's DAX .GDAXI are down 0.3% and 0.2% respectively.

France's CAC 40 .FCHI is up 0.1%, lifted by the luxury sector after positive results from Hermes HRMS.PA.

The Birkin bag maker said sales rose 18% in the fourth quarter, exceeding expectations for a 10% rise.

Shares in Dutch-listed Prosus are up over 5% after a rally in Tencent shares in Hong Kong following reports that CEO Pony Ma would be attending a symposium with Chinese President Xi Jinping. Prosus owns 24% of Tencent, according to LSEG data.

Here's your opening snapshot:

(Samuel Indyk)

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FRIDAY'S OTHER LIVE MARKETS POSTS:

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TARIFF WORRIES WANE, HERMES EARNINGS AWAIT CLICK HERE