PARIS, March 25 (Reuters) - European shares dipped in early trading on Wednesday, hovering below 7-1/2-year highs, as investors awaited a survey on German business climate for insight on the outlook for Europe's biggest economy.
Shares in Hermes featured among the biggest losers, down 1.9 percent, after the French luxury goods maker posted a 7 percent rise in full-year operating income but said foreign exchange rates dragged its margin lower. Hermes has a strong exposure to Japan.
At 0810 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1,600.35 points.
Data released earlier on Wednesday showed French business morale stood at its highest in nearly three years in March.
Reporting by Blaise Robinson; Editing by Atul Prakash