European stocks mostly higher, with defensive sectors attracting capital inflows

Odaily Planet Daily News According to Gate data, most European stock indices were higher in early trading, with the market performing relatively firmly. Strong earnings reports and investor rotation into defensive sectors drove the Euro Stoxx 600 index higher, despite the ongoing sell-off led by the semiconductor sector. The UK FTSE 100 index also maintained its gains, up about 0.5% during the day, as rising oil prices boosted shares of energy companies such as Shell and BP. France's CAC 40 index rose 0.5%, with Kering surging 11% after reporting earnings, driving the broader luxury goods sector higher. Germany's DAX index rose 0.3%, with Deutsche Bank rising 5.3% after announcing a new stock buyback plan, becoming the main driver of the index's rise. The Netherlands' AEX index edged up 0.05%. Against the backdrop of broad weakness in tech stocks, semiconductor equipment company ASM International fell over 6%, but chemical group IMCD rose 9%, partially offsetting the drag from the tech sector. Spain's IBEX 35 index fell 0.65%.