European stocks opened higher on Friday, propped up by positive company updates, although investors remained cautious about a resurgence in U.S. COVID-19 cases and its impact on the global economy.

The pan-European STOXX 600 index was up 0.6 percent by 0720 GMT, with technology, chemical companies and miners leading sectoral gains. Markets this week have swung between fears of a second wave of coronavirus cases and signs of more economic support from governments and central banks. The STOXX 600 is still on course to post one percent weekly loss.

European Stocks Open Higher

China stocks

Air France-KLM jumped five percent after governments of France and Netherlands reached a deal on an aid package for the airline group, with the latter saying it would provide a 3.4 billion euro ($3.81 billion) financing package. AMS rose 5.7 percent after the Austria-based semiconductor company rejected media allegations of market manipulation during its takeover of Osram.