STOXX 600 set to log best week in over a month
Spain39;s inflation eases to 1.7
Moncler surges after CEO strikes investment deal with LVMH

Sept 27 Reuters European shares retreated from record highs touched earlier on Friday, as caution prevailed ahead of a crucial U.S. data, although gains in Moncler and luxury stocks capped further downside in prices.

The panEuropean STOXX 600 index held its ground at 526.32 points. The benchmark index hit an alltime high of 526.72 points earlier in the session, and is set to log its best week in more than a month, if gains hold.

Investors might be questioning is there enough momentum to go higher after touching those record highs, said Daniela Hathorn, senior market analyst at Capital.com.

We may see a bit of consolidation from here.

Overall gains were muted due to investor caution as markets awaited the U.S. core personal consumption expenditures PCE price index the Fed39;s preferred measure of inflation due later in the day.

Shares of Italy39;s Moncler surged 11.8 after CEO Ruffini struck a deal with LVMH, which will see the retailer partner with Ruffini to make an expanded investment in the luxury group.

The region39;s personal household goods sector supported the index with a 1.6 jump.

News of China39;s stimulus significantly boosted the STOXX 600 benchmark index this week, underscoring the crucial role of Chinese consumers for European companies.

Earlier in the day, China39;s central bank cut the borrowing cost of…