European shares edge up on energy boost

European shares opened higher on Friday, helped by gains in energy stocks, but were set for their worst week in nearly two months.

The pan-European STOXX 600 index rose 0.4% by 0818 GMT, after falling more than 1% in the previous session.

Still, the benchmark was poised to record a 2.6% drop this week, marking its second consecutive weekly decline.

The energy sector was the biggest boost to the index, gaining 1.2% as oil prices surged on reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. [O/R]

Reckitt surged 10.3% after the consumer goods group was cleared of liability in the latest preterm formula case.

Meanwhile, data showed that the Swiss consumer price index rose 0.6% in October.

The travel sector fell 0.3% due to a 1.5% drop in Lufthansa shares after HSBC downgraded the stock to “hold” from “buy”.

With a relatively light data day in Europe, investors will turn their focus to the U.S. non-farm payrolls data due later in the day.

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