The pan-European Stoxx 600 provisionally closed 0.45% higher, with most sectors and major bourses trading in the green.
Banks led gains, rising 1.7%, while oil and gas stocks added 1.6%, continuing their climb on supply concerns after U.S. President Joe Biden suggested Israel could target Iran’s oil industry as the Middle East conflict further escalates.
Automaker shares climbed 1.5% after the European Union on Friday voted to adopt definitive tariffs on China-made battery electric vehicles (BEVs). It comes despite opposition to the measures from many European carmakers, who fear retaliatory tariffs from one of their biggest markets.
Elsewhere, shares of French video game publisher Ubisoft surged over 30% on Friday after a media report that Tencent and the firm’s founding Guillemot family are considering a potential buyout of the company.
Meanwhile, shares of Danish shipping giant Moller-Maersk fell more than 8% at one point before paring losses slightly after U.S. dockworkers and the United States Maritime Alliance agreed on Thursday to a tentative deal on wages, bringing to a close their three-day strike and easing pressures on the sector.
A prolonged strike would have provided a boost for European shippers to take a larger share of global supply chain demands. Maersk closed over 5% lower, while Germany’s Hapag Lloyd lost over 15%.
U.S. stocks were last slightly higher Friday, paring back an earlier rally that came after nonfarm payrolls data showed the U.S. economy added 254,000 jobs in September, ahead of the 150,000 estimated by economists polled by Dow Jones.