- Nintendo shares tumble as Switch 2 teaser disappoints
- Apple sidelines AI news summaries due to errors
- China says population fell for third year in a row in 2024
- Asian traders give mixed reaction as China's economic growth slows
- Chinese economic growth among slowest in decades
- 'Damaging' AI porn scandal at US school scars victims
- Nintendo shares tumble as Switch 2 preview disappoints
- SpaceX catches Starship booster again, but upper stage explodes
- SpaceX catches Starship booster but upper stage explodes
- Insurance access for US homeowners with higher climate risks declines
- Wall Street rally loses steam as European luxury shares advance
- China set to post sluggish growth as doldrums deepen
- US braces for freezing weather fueled by polar vortex
- Musk's Starship set for launch after Bezos orbital triumph
- Surf star Slater pays tribute as Quiksilver co-founder Green dies
- Teen kills fellow student teacher at Slovak school
- LIV Golf sign United States broadcast deal with Fox Sports
- Slovak entrepreneur funding rescue of German flying taxi startup
- French researchers aim to ease X refugees' path with 'HelloQuitX'
- China property giant Vanke's CEO 'taken away' by police: report
- Oil giant BP cuts thousands of jobs to slash costs
- EU announces 120 mn euros in Gaza aid after ceasefire
- Nepal's top court bars infrastructure in protected areas
- Stock markets jump as inflation worries ease
- China to probe US chips over dumping, subsidies
- India's outcast toilet cleaners keeping Hindu festival going
- Apple loses top spot in China smartphone sales to local rivals
- Sri Lanka signs landmark $3.7 bn deal with Chinese state oil giant
- Blue Origin's New Glenn rocket blasts into orbit for first time
- UK economy rebounds but headwinds remain for govt
- Stocks follow Wall St higher on welcome US inflation data
- Blue Origin's New Glenn rocket blasts off in first launch, reaches orbit
- Chinese give guarded welcome to spending subsidies
- World Bank plans $20 bn payout for Pakistan over coming decade
- Indian Bollywood star Saif Ali Khan stabbed in burglary
- Taiwan's TSMC says net profit rose 57% in fourth quarter
- India achieves 'historic' space docking mission
- Herbicide under US scrutiny over potential Parkinson's link
- AFP strikes deal for France's Mistral AI to use news articles
- Survivors count the mental cost of Los Angeles fires
- US consumer inflation rises in December but underlying pressures ease
- SpaceX delays latest Starship megarocket test to Thursday
- Brad Pitt isn't messaging you, rep warns, after adoring fan scammed
- Prince William makes pub visit to meet fellow Aston Villa fans
- US bank profits rise as Wall Street hopes for merger boom
- Methane leaks from Nord Stream pipeline blasts revised up: studies
- Death toll at illegal S.African mine reaches 78
- US consumer inflation rises December but underlying pressures ease
- Stock markets get boost from bank earnings, inflation data
- Mozambique's new president vows 'unity' as sworn in amid deadly protests
Wall Street rally loses steam as European luxury shares advance
Wall Street equities finished lower Thursday following a mixed US retail sales report, while European luxury stocks pushed higher following strong results from Cartier owner Richemont.
Major US indices spent part of the day in positive territory but were unable to extend Wednesday's rally in a session Briefing.com described as "lackluster."
US retail sales grew 0.4 percent from November to December, a slower pace than in November but still a solid increase. In a separate report, the National Retail Federation estimated the growth in US holiday sales at four percent for 2024, topping estimates.
The retail figures came on the heels of Wednesday's consumer price index figures, which eased concerns that the Federal Reserve will keep interest rates high.
After major indices gained around two percent Wednesday, all three finished lower on Thursday.
But bourses in Europe and Asia pushed higher.
The Paris stock market surged more than two percent after Cartier owner Richemont reported record quarterly sales.
The Swiss luxury firm ended the day more than 16 percent higher. Sales in Richemont's Asia-Pacific region fell seven percent in the third quarter, dragged down by an 18 percent drop in China, Hong Kong and Macau.
But the company enjoyed double-digit increases in Japan, Europe, the Middle East and Africa.
"It seems that despite the challenging situation in China and in watches, Richemont has never been stronger," said Jean-Philippe Bertschy, analyst at investment firm Vontobel.
In Paris, shares of Louis Vuitton, Hermes and Gucci owner Kering rose, while Burberry forged higher in London.
London rose more than one percent even as data showed the UK economy expanded at a slower pace than expected in November.
"It is a sea of green in the European equity space..." noted Kathleen Brooks, research director at XTB trading group.
"There are threats to inflation down the road, but they are concerns for another day.
"For now, stocks are playing catch up, bonds remain stable and the weakening in the dollar in recent days has helped to boost risk sentiment."
Still, there remains a certain amount of caution ahead of Donald Trump returning to the White House on Monday. The Republican has promised to ramp up tariffs on imports, and slash taxes and regulations, something that many fear could reignite inflation.
- Key figures around 2130 GMT -
New York - Dow: DOWN 0.2 percent at 43,153.13 (close)
New York - S&P 500: DOWN 0.2 percent at 5,937.34 (close)
New York - Nasdaq Composite: DOWN 0.9 percent at 19,338.29 (close)
London - FTSE 100: UP 1.1 percent at 8,391.90 (close)
Paris - CAC 40: UP 2.1 percent at 7,634.74 (close)
Frankfurt - DAX: UP 0.4 percent at 20,655.39 (close)
Tokyo - Nikkei 225: UP 0.3 percent at 38,572.60 (close)
Hong Kong - Hang Seng Index: UP 1.2 percent at 19,522.89 (close)
Shanghai - Composite: UP 0.3 percent at 3,236.03 (close)
Euro/dollar: UP at $1.0306 from $1.0289 on Wednesday
Pound/dollar: DOWN at $1.2237 from $1.2242
Dollar/yen: DOWN at 155.17 yen from 156.47 yen
Euro/pound: UP at 84.18 pence from 84.04 pence
West Texas Intermediate: DOWN 1.7 percent at $78.68 per barrel
Brent North Sea Crude: DOWN 0.9 percent at $81.29 per barrel
burs-jmb/dw
A.Mykhailo--CPN