欧洲股市周五收跌，较上一交易日触及的历史高点有所回落，但本周仍大幅上涨，因为市场继续评估今年乌克兰和平的可能性以及美国总统特朗普可能征收关税的影响。欧元区STOXX 50指数下跌0.2%，收于5488点，昨日创下25年来的历史新高，而泛欧STOXX 600指数下跌0.3%，收于552点。特朗普宣布了逐国互惠关税计划，最早将于4月生效。医疗保健和保险公司领跌，安联、安盛和慕尼黑再保险下跌2.5%至2.5%。与此同时，赛诺菲下跌1.6%，而诺华、诺和诺德和阿斯利康在欧盟以外也出现了类似的下跌。与此同时，爱马仕削减了早期涨幅，但在报告了今年强劲的销售后，收盘上涨1%，提振了LVMH和开云集团的股价。考虑到整个星期，STOXX 50上涨3%，STOXX 600上涨1.5%。

European stocks closed lower on Friday, easing from the record highs touched last session but still rising sharply on the week as markets continued to assess the likelihood of peace in Ukraine this year and the impact of potential tariffs from US President Trump. The Eurozone’s STOXX 50 eased 0.2% to close at 5,488 after reaching a record high for the first time in 25 years yesterday, while the pan-European STOXX 600 dropped 0.3% to 552. Trump announced plans for reciprocal tariffs on a country-by-country basis, set to take effect as early as April. Healthcare and insurers led the losses, with Allianz, AXA, and Munich Re dropping between 2.5% and 2.5%. In the meantime, Sanofi lost 1.6% while Novartis, Novo Nordisk, and AstraZeneca had similar declines outside the bloc. In the meantime, Hermes trimmed early gains but closed 1% higher after reporting strong sales in the year, lifting LVMH and Kering shares. Considering the full week, the STOXX 50 added 3% and the STOXX 600 gained 1.5%.

欧元微涨至1.05美元，达到1月下旬以来的最高水平，因为低于预期的美国零售销售报告重新点燃了人们对美联储可能在今年晚些时候降息的希望，尽管通胀担忧挥之不去。数据显示，由于恶劣的冬季天气和野火扰乱了消费者支出，美国1月份零售额大幅下降0.9%，远低于预期的0.1%。在其他地方，交易员评估了特朗普总统的贸易政策和当前地缘政治发展的影响。特朗普宣布了针对特定国家的互惠关税计划，最早将于4月生效，尽管市场仍谨慎乐观地认为谈判可能会避免其全面实施。此外，结束乌克兰战争的外交努力在慕尼黑继续进行，特朗普在与俄罗斯总统普京和乌克兰总统泽连斯基讨论后承诺加快和平谈判。

The euro edged higher toward $1.05, reaching its strongest level since late January, as a weaker-than-expected US retail sales report reignited hopes that the Federal Reserve could cut interest rates later this year despite lingering inflation concerns. The data revealed a sharp 0.9% drop in US retail sales for January, far worse than the expected 0.1% decline, as severe winter weather and wildfires disrupted consumer spending. Elsewhere, traders assessed the impact of President Trump’s trade policies and ongoing geopolitical developments. Trump announced plans for country-specific reciprocal tariffs, set to take effect as early as April, though markets remain cautiously optimistic that negotiations could avert their full implementation. Additionally, diplomatic efforts to end the war in Ukraine continued in Munich, with Trump pledging to accelerate peace talks following discussions with Russian President Putin and Ukrainian President Zelenskyy.

欧盟统计局的第二次估计显示，2024年最后一个季度，欧元区经济增长了0.1%，略好于最初报告的持平数据，但仍是今年表现最差的一年。欧盟最大的两个经济体出现收缩，德国和法国的国内生产总值分别下降了0.2%和0.1%，而意大利则连续第二个季度停滞不前。相比之下，西班牙（0.8%）和葡萄牙（1.5%）实现了稳健增长，荷兰（0.4%）、比利时（0.2%）、斯洛文尼亚（0.6%）、斯洛伐克（0.5%）和爱沙尼亚（0.1%）也表现良好。不利的一面是，爱尔兰的国内生产总值下降了1.3%，奥地利的经济保持平稳，芬兰（0.1%）、塞浦路斯（0.3%）和立陶宛（0.9%）的增长放缓。欧元区GDP同比增长0.9%，与第三季度持平，与第一次估计一致。考虑到全年，经济增长了0.7%，高于2023年的0.4%。

The Eurozone economy grew by 0.1% in the final quarter of 2024, slightly better than the initially reported flat reading but still marking the weakest performance of the year, the second estimate from the Eurostat which includes data for more countries showed. The bloc's two largest economies contracted, with Germany's GDP shrinking by 0.2% and France's by 0.1%, while Italy stagnated for a second consecutive quarter. In contrast, Spain (0.8%) and Portugal (1.5%) posted solid growth, alongside positive performances in Netherlands (0.4%), Belgium (0.2%), Slovenia (0.6%), Slovakia (0.5%), and Estonia (0.1%). On the downside, Ireland's GDP fell by 1.3%, Austria's economy remained flat, and slower growth was recorded in Finland (0.1%), Cyprus (0.3%) and Lithuania (0.9%). Year-on-year, the Euro Area GDP grew 0.9%, the same as in Q3, in line with the first estimate. Considering full year, the economy expanded 0.7%, above 0.4% in 2023.

据初步估计，2024年最后三个月，欧元区就业人数比上一季度增长0.1%，达到1.7117亿人，较上一季度0.2%的增长有所放缓，与市场估计相符。这是连续第15个就业扩张期，支持了欧洲央行的言论，即尽管今年年初经济放缓，但欧盟的劳动力市场仍然紧张。在主要经济体中，西班牙和荷兰的就业率分别飙升0.9%和0.3%，而德国的就业率则连续第二个季度停滞不前，这与后者的长期衰退相一致。按年度计算，欧元区就业增长率为0.6%。

The number of employed persons in the Euro area rose by 0.1% from the previous quarter to 171.17 million in the final three months of 2024, slowing from the 0.2% increase in the previous period and in line with market estimates, according to a preliminary estimate. It was the 15th consecutive period of employment expansion, backing the ECB’s rhetoric that the bloc’s labor market remains tight, despite the slowdown at the turn of the year. Among major economies, employment soared by 0.9% in Spain and 0.3% in the Netherlands, while stalling for a second straight quarter in Germany, in line with the latter’s prolonged recession. On an annual basis, Eurozone employment growth rose by 0.6%.