European shares buck global downturn on Middle East risks as energy stocks gain
Corrects energy sector move in paragraph 3 to 1.7% from 17%
Oct 2 (Reuters) -European shares opened higher on Wednesday, led by energy stocks, defying a slump in Asian stocks and Wall Street after Iran's ballistic missile strike on Israel raised fears of a broader regional conflict.
The pan-European STOXX 600 .STOXX rose 0.2% to 522.10 points, as of 0710 GMT.
The energy sector .SXEP provided the biggest boost to the index, gaining 1.7%after oil prices jumped due to rising concerns in the Middle East that could escalate, following Iran's biggest-ever military blow against Israel. O/R
Defence companies such as Germany's Rheinmetall RHMG.DE, Sweden's Saab SAABb.ST and BAE Systems BAES.L gained between 1% and 3%.
Basic Resources .SXPP rose 1.1% as copper prices gained after China's stimulus measures brightened demand prospects. MET/L
On the data-front, euro-zone unemployment data for August is set to drop at 0900 GMT. Markets will also be focussing on comments by the European Central Bank's chief economist Philip Lane, with a host of ECB board members set to speak through the day, including Vice President Luis de Guindos.
JD Sports Fashion JD.L lost 2.5% despite the British sportswear retailer beating a consensus forecast for first-half profit.
Reporting by Pranav Kashyap in Bengaluru; Editing by Rashmi Aich
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