NEW YORK: 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 per cent 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 2 per cent on Wednesday, all three finished lower on Thursday.

But bourses in Europe and Asia pushed higher.

The Paris stock market surged more than 2 per cent after Cartier owner Richemont reported record quarterly sales.

The Swiss luxury firm ended the day more than 16 per cent higher. Sales in Richemont's Asia-Pacific region fell 7 per cent in the third quarter, dragged down by an 18 per cent 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 1 per cent 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.