Europe climbs from two-week low on automobile recovery

European stocks rose on Friday off two-week lows and on track for the first profit in four days as automobile stocks rallied while markets remain headed for weekly losses on Covid second wave concerns. 

Dow Jones Stoxx Europe 600 rose 1.1% as of 10:28 GMT after closing down 2.1% yesterday. 

The Stoxx climbed from two-week lows with most sectors firmly in the green. 

Automobile stocks led the gains with a 2.5% surge after Daimler beat profit forecasts in the third quarter. 

For the week, the Stoxx is down 1% on track for the first weekly loss in three. 

US Treasury Secretary Steven Mnuchin almost ruled out expanding stimulus before elections due to disagreement with Democrats on priorities. 

The French government announced another health emergency after daily Covid infections surpassed 9000 for the first time since June 25. 

S&P 500 futures rose 0.5% after closing down 0.15% yesterday. 

In Europe, the Euro Stoxx 50 rose 1.3%, while France's CAC 40 rallied 1.7%, as Germany's DAX rose 1%, while London's Financial Times 100 rose 1.25%.