European equities opened broadly higher as stronger earnings and a rotation into
defensive sectors lifted the Stoxx Europe 600, despite an ongoing
semiconductor-led selloff. FTSE 100 rose about 0.5% as an oil rally buoyed Shell
and BP. CAC 40 gained 0.5%; Kering jumped 11% after reporting results,
strengthening the luxury sector. DAX added 0.3%; Deutsche Bank climbed 5.3%
after announcing a new share buyback and was a key driver for the index. AEX
edged up 0.05%; semiconductor equipment firm ASM International fell over 6%
while chemical distributor IMCD rose 9%, partly offsetting tech weakness. IBEX
35 declined 0.65%.
