European markets trade cautiously as Kering surges 10% on strong Gucci rebound

European stocks opened steady on Oct 23 as earnings dominated sentiment. The STOXX 600 inched 0.2% higher, led by Kering SA (+10%) after Gucci’s quarterly sales beat forecasts, lifting luxury peers LVMH (+3%) and Hermès (+2%). Financials edged lower while energy majors gained with Brent hovering near $64.40. Traders assessed eurozone PMI data showing manufacturing contraction easing to 48.9 from 47.2. The FTSE 100 rose 0.1%, DAX was flat. Analysts expect selective rotation into consumer and industrial names as Q3 earnings continue through month-end amid policy uncertainty around ECB rates and U.S. inflation readings.