European shares are heading for a weekly gain after a strong start to trading on Friday

European shares jumped 1.2 percent in early trading on Friday, erasing losses this week, as investors awaited the first round of the French presidential election early next week, as the victory of incumbent President Emmanuel Macron is no longer a given.

Financial and auto stocks led the gains, while all major European sectors gained.

The European Stoxx 600 index, which recorded a loss since the beginning of the week until Thursday’s close, is currently heading to end this week, up 0.4 percent.

The French CAC 40 index rose 1.4 percent, but is down more than 2 percent this week, the largest loss among indices in Europe, due to uncertainty about the elections.