European Shares Climb Despite Weekly Setback

European shares opened higher on Friday, driven by energy stocks, yet are set for their worst week in nearly two months. The STOXX 600 index rose by 0.4%, aided by a 1.2% boost in the energy sector. Investors await U.S. non-farm payrolls data.

European shares registered an uptick on Friday, supported by a surge in energy stocks, yet the week is poised to conclude as one of the most challenging in nearly two months for the market.

The pan-European STOXX 600 index experienced a 0.4% increase by 0818 GMT after a significant decline of over 1% in the prior session, though it still faces a potential 2.6% weekly drop, marking two consecutive weeks of losses.

The energy sector was instrumental in driving the short-term market recovery, showing a 1.2% gain, as oil prices climbed amid reports of potential geopolitical tensions. Other market movements included Reckitt's notable 10.3% surge following its legal clearance, while Lufthansa's shares fell 1.5% after a stock rating downgrade by HSBC.