STOXX 600 up 0.5
Swiss CPI up 0.6
Reckitt cleared of liability in formula case; shares jump

Nov 1 Reuters European shares climbed on Friday, buoyed by a rally in energy stocks, but remained on track for their worst week in nearly two months as a tightly contested U.S. presidential election kept investors on edge.

The panEuropean STOXX 600 index rose 0.5 to 508.05, after falling more than 1 in the previous session.

The benchmark was poised to record a drop of about 2 this week, marking its second consecutive weekly decline.

As the Nov. 5 U.S. presidential election approaches, the race remains too close to predict, with opinion polls showing a virtual dead heat.

Investors are placing their bets on the possibility of Republican candidate Donald Trump returning to presidency, although he is neckandneck with Vice President Kamala Harris in several polls.

This heightened uncertainty has driven investors to safehaven assets, driving up the U.S. dollar and gold , which hit a record high this week.

In the current session, the energy sector was the biggest boost to the index, gaining 1.4 as oil prices surged on reports that Iran was preparing a retaliatory strike on Israel from Iraq in the coming days.

Reckitt surged 10 after the consumer goods group was cleared of liability in the latest preterm formula case.

The travel sector fell 0.5 due to a 2.6 drop in Lufthansa shares after HSBC downgraded the stock to hold from buy.

For the week, the banking sector gained the…