US markets finished lower on 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 "lacklustre."

US retail sales grew 0.4 percent from November to December. That was slower than 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.

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.

Kathleen Brooks, research director at XTB trading group said there were "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," Brooks added.

However, investors remain cautious ahead of Donald Trump's return to the White House. The Republican has promised to ramp up tariffs on imports, and slash taxes and regulations, something that many fear could reignite inflation.

The Dow Jones Industrial Average eased 0.2 percent to 43,153.13, the S&P 500 also lost 0.2 percent to 5,937.34, and the Nasdaq Composite index fell 0.9 percent to 19,338.29. (AFP)