European stock markets mostly rose, with defensive sectors attracting capital inflows

According to Gate data, most European stock indices rose in early trading, showing a relatively firm market performance. 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's FTSE 100 index also maintained its gains, up about 0.5% intraday, as rising oil prices boosted energy stocks such as Shell and BP. France's CAC 40 index rose 0.5%, with Kering surging 11% after releasing its earnings report, driving the overall luxury goods sector higher. Germany's DAX index rose 0.3%, with Deutsche Bank jumping 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 a backdrop of overall weakness in technology 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%.