(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Nov 12 (Reuters) - European shares hit record highs on Friday, with luxury stocks flying high on the back of strong earnings from Cartier-owner Richemont. The pan-European STOXX 600 was up 0.1% as of 0828 GMT, hitting a new peak in early trading. Richemont surged 7.8% after beating profit estimates in the first half of the fiscal year and saying it is seeking investors for its loss-making Yoox business, in a move widely expected to appease shareholders. Personal and household stocks led gains as luxury firm LVMH jumped 1.5% after news that Louis Vuitton was planning to open its first duty-free store in China. Oil stocks fell 0.5% as crude prices were dented by a firmer U.S. dollar owing to market bets of an earlier-than-expected Federal Reserve rate hike. Deutsche Telekom climbed 2.1% after beating profit expectations and raising its full-year outlook for the third time, boosted by growing subscribers in its U.S. unit T-Mobile. Italian infrastructure firm Atlantia rose 1.2% after raising its 2021 forecast, while Dutch oil and chemical storage group Vopak also advanced 0.3% after beating estimates for quarterly profit. (Reporting by Anisha Sircar in Bengaluru; Editing by Anil D’Silva)