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European stock markets opened lower on Friday after hitting record highs earlier this week.
The pan-European Stoxx 600 index moved 0.1% lower when markets opened. The U.K.'s FTSE 100 was down by 0.25%, and Germany's DAX was lower by 0.3%. Meanwhile, France's CAC 40 opened flat.
Asia-Pacific markets were mixed Friday, after Wall Street rose overnight as President Donald Trump signed a reciprocal tariffs plan, but did not enact the levies immediately.
Mainland China's CSI 300 Index rose 0.86%, while Hong Kong's Hang Seng index surged 3.06%, extending its gains from the previous session.
Japan's benchmark Nikkei 225 ended the day 0.79% lower at 39,149.43, while the broader Topix index lost 0.23% to close at 2,759.21.
In European markets, British lender NatWest reported its full-year earnings, beating estimates on profit and revenues. The company, which is still partly owned by the state, said that the U.K. government had reduced its stake in the bank from 7.98% to 6.98%.
Hermes shares pop after fourth-quarter results
Haute couture fashion house Hermes on Friday reported a better-than-expected jump in fourth-quarter sales, proving still strong demand for the most exclusive products in an otherwise turbulent luxury market.
Hermes shares opened nearly 5% higher.
The maker of the Birkin handbag posted a 17.6% rise in revenues at constant exchange rates to 3.96 billion euros ($4.15 billion) in the three months to Dec. 31, outpacing the 3.69 billion euros forecast by LSEG analysts.
Full-year sales rose 14.7% at constant exchange rates to 15.2 billion euros versus an anticipated 14.94 billion euros.
— Karen Gilchrist
Goldman upgrades prospects for European stocks
Goldman Sachs has raised the upside potential for European stocks on rising odds of peace in Ukraine.
"For European equities we see a number of potential benefits lower risk premium, lower energy prices, better consumer confidence, stronger economic growth," said Goldman strategists led by Sharon Bell in a note to clients on Jan. 14.
Goldman pointed to speculation in media as well as private betting markets that suggest the probability of a ceasefire this year have risen to 70%.
"Our economists estimate a potential Euro area GDP increase of 0.2% in a limited ceasefire scenario and a 0.5% boost in an upside scenario," the bank's strategists added.
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— Ganesh Rao
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