European Indexes Higher at Open as Earnings Drive Gains
Dow Jones07-29 15:22
0722 GMT - European stock indexes are largely higher in resilient early trade. Strong earnings prints and investor rotation into defensive sectors helps the Europe-wide Stoxx 600 rise 0.3%, even as a semiconductor-led selloff continues. London's FTSE 100 is 0.55% higher as rising oil prices buoy Shell and BP. The CAC 40 adds 0.5% in Paris, where Kering leaps 11% after earnings, helping the broader luxury sector. The Italian FTSE MIB adds 0.7%. Germany's DAX rises 0.3%, led by a 5.3% gain for Deutsche Bank after it announced a new buyback. The Dutch AEX edges up 0.05% amid broad tech weakness with ASM International losing 6.6%, though chemicals group IMCD jumps 9%. Spain's IBEX 35 is 0.65% lower as CaixaBank--down 4.1%--drags.
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