European stocks opened higher Friday, supported by energy stocks after crude oil prices jumped on fears of a wider conflict in the Middle East.

The European Stoxx 600 index rose 0.2 percent. However, it is heading for its worst week since September 2 if the losses continue.

The energy sector was the only sub-sector to gain this week, jumping 4.5 percent, and the sector index is heading for its best weekly performance in nearly six months.

In contrast, the auto stock index was the worst performing sub-index this week, falling by about 7 percent. The sector’s losses were led by the American-Italian carmaker Stellantis, which plunged 17 percent this week after a warning about profits and the company’s continued dividend distribution.

Among individual stocks, DSV jumped 6.4 percent after the Danish transport company raised USD 5.5 billion from a share issue to partly finance its takeover of Schenker.

Source: Qatar News Agency