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.

European shares gain as key data and US tech earnings loom

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 US non-farm payrolls data due later in the day.