European stock markets mostly edged higher, with inflows into defensive sectors

According to Gate data, European stock indices mostly rose in early trading, showing a relatively firm market performance. Strong earnings reports and investors rotating into defensive sectors drove the Euro Stoxx 600 index higher, even as a sell-off led by the semiconductor sector continued. The UK's FTSE 100 index also maintained its gains, rising around 0.5% intraday, boosted by higher oil prices lifting energy stocks like Shell and BP. France's CAC 40 index rose 0.5%, with Kering surging 11% after its earnings report, driving the overall luxury goods sector higher. Germany's DAX index gained 0.3%, led by Deutsche Bank, whose shares rose 5.3% after announcing a new share buyback plan, providing the main upward thrust for the index. The Netherlands' AEX index inched up 0.05%, with semiconductor equipment maker ASM International falling over 6% amid broadly weak tech stocks, though chemical group IMCD rose 9%, partially offsetting the drag from the tech sector. Spain's IBEX 35 index fell 0.65%.