This is CNBC's live blog covering European markets.

European markets were higher on Friday, starting November on a positive footing as traders await an all-important U.S. jobs report.

The pan-European Stoxx 600 traded up around 0.5% at 9:15 a.m. London time, with most sectors and major bourses in positive territory. Oil and gas stocks led the gains, up 1.4%.

It comes shortly after European stocks closed lower on Thursday, ending October with its steepest loss for year as investors weighed corporate results, inflation data and a landmark U.K. budget.

Elsewhere, Asia-Pacific markets were mostly lower on Friday as traders reacted to a slew of economic data. Japan's Nikkei 225 index fell over 2.6% to extend losses from the previous session when the Bank of Japan held interest rates steady.

U.S. stocks futures were slightly higher on Friday, as traders looked ahead to the October jobs report. It comes after a downbeat session on Thursday, which saw benchmarks Nasdaq Composite and S&P 500 dragged lower by post-earnings slumps in Microsoft and Meta.

The U.S. nonfarm payrolls report, which is due at 12:30 p.m. London time, will be released ahead of Tuesday's presidential election and the Federal Reserve's next policy meeting.

Risk premium returns to the UK after landmark budget, Hargreaves Lansdown says

A higher risk premium for U.K. debt has returned following a landmark budget from Britain's Labour government, according to Susannah Streeter, head of money and markets at Hargreaves Lansdown.

U.K. bond yields spiked sharply on Thursday, extending gains from the previous session when Finance Minister Rachel Reeves unveiled a sweeping package of tax hikes and increased borrowing.

"I think what has been happening is that there has been a much deeper dig into the government finances and those forecasts from the Office for Budget Responsibility, indicating that not only will growth undershoot previous forecasts over a four-year period, but also inflation is likely to edge up because of all this extra spending," Streeter told CNBC's "Squawk Box Europe" on Friday.

Streeter said Thursday's spike in government bond yields was not solely down to investor worries about an inflationary budget.

"It's also this concern about just where all this extra investment spending will go and just how responsible the government will be in using that money. So, the risk premium has returned, to some extent, on the UK," Streeter said.

"It isn't anything like we saw with the Trussonomics mini budget when that spike really was high after those unfunded tax cuts came in," she continued.

"It's just this extra weariness that, you know, this is a big tax, this is a big spending budget [so] will government use prudence in executing its strategy? And I think that's what bond investors want to see."

— Sam Meredith

Maersk shares up 5%

Shares of Danish shipping giant Maersk rose more than 5% on Friday after both Barclays and JPMorgan rose their target price for the stock.

The company was among the top performers on the Stoxx 600 during early morning deals.

— Sam Meredith

Shares of Reckitt Benckiser jump 10%

Shares of U.K.-based consumer goods company Reckitt Benckiser surged more than 10% on Friday shortly after the company was cleared of liability in a preterm formula case.

The stock, which is down more than 14% year-to-date, jumped to the top of the European benchmark on the news.

— Sam Meredith

European markets open marginally higher

European markets opened slightly higher on Friday.

The pan-European Stoxx 600 traded up around 0.1% shortly after the opening bell, with sectors pointing in opposite directions.

— Sam Meredith

Britain's annual house price growth slows in October

U.K. house prices rose 2.4% on an annualized basis in October, mortgage lender Nationwide said on Friday, reflecting a weaker increase than September's growth of 3.2%.

The building society said house prices rose 0.1% on a monthly basis in October, down from a 0.6% increase in the month prior.

"Housing market activity has remained relatively resilient in recent months, with the number of mortgage approvals approaching the levels seen pre-pandemic, despite the significantly higher interest rate environment," Robert Gardner, chief economist at Nationwide, said in a statement.

"Solid labour market conditions, with low levels of unemployment and strong income gains, even after taking account of inflation, have helped underpin a steady rise in activity and house prices since the start of the year," he added.

— Sam Meredith

U.S. jobs data 'absolutely key' to Fed decision-making, investment officer says

The release of U.S. jobs data on Friday is "absolutely key" to the Federal Reserve's decision-making ahead of the central bank's meeting next week, according to Isabel Albarran, investment officer at Close Brothers Asset Management.

Speaking to CNBC's "Squawk Box Europe" on Friday, Albarran said it was "very difficult" to make the case for another jumbo interest rate cut of 50 basis points when Fed policymakers meet on Nov. 6-7.

"Labor market data remains absolutely key to Fed decision-making," Albarran said.

"I think the great news has been that initial jobless claims have been so much stronger than people had expected given the magnitude of the storm season but, as you mentioned, we have had that strike action, so this could be a little bit of a softer print," she added, referring to hurricanes Helene and Milton and the strike at Boeing.

"I think the Fed are going to be relatively sanguine about that given how much resilience we have seen in broader economic data coming out of the U.S. though," Albarran said.

— Sam Meredith

CNBC Pro: Wealth manager for the super-rich names 3 stocks to buy before the year-end

Equity markets rallied this year, as investors remained bullish on Big Tech but also scooped up shares in under-the-radar companies.

CNBC Pro touched base with Kevin Teng, CEO of Wrise Private Singapore, for his take on the stocks he favored at the start of the year, as well as names he's betting on before the year's end.

The wealth manager — whose firm serves ultra-high-net-worth individuals across Asia, the Middle East and Europe — revealed his three stock picks, including two under-the-radar names.

CNBC Pro subscribers can read more here on the three stocks he's betting on now.

— Amala Balakrishner

European markets: Here are the opening calls

European markets are expected to open mixed on Friday.

The U.K.'s FTSE 100 is poised to open 8 points higher at 8,113, Germany's DAX 6 points higher at 19,060, France's CAC up 8 points at 7,342 and Italy's FTSE MIB down 22 points at 34,008, according to data from IG.

It comes shortly after European stocks closed lower on Thursday, ending October with its steepest loss for year as investors weighed a flurry of corporate earnings, inflation data and a landmark U.K. budget.

— Sam Meredith