(Reuters) -European shares rose on Friday as investors assessed a potential de-escalation in the U.S.-China trade war, while some upbeat quarterly earnings also offered support.

China is considering exempting some U.S. imports from its 125% tariffs, stoking hopes for a de-escalation in a spiralling trade war between the world’s two largest economies.

The pan-European STOXX 600 index rose 0.5% by 0710 GMT, and was on track to climb 2.9% this week, its second straight week of gains.

Other regional indexes including Germany’s DAX , France’s CAC 40, Spain’s IBEX, and the UK’s FTSE 100 gained between 0.2% and 0.9%.

U.S. President Donald Trump’s softened rhetoric on the trade war with China also helped stabilise sentiment this week.

European travel stocks led sector gains with a 1.7% rise, followed by automobiles and parts index, both of which were up 1.4%.

Stora Enso (OTC: SEOAY ) climbed 4.3% after the Finnish forestry group reported first-quarter operating profit above market expectations.

French jet engine maker Safran (EPA: SAF ) jumped 2.9% after it reported a stronger-than-expected rise in first-quarter revenues and said it was confident of hitting full-year targets, excluding any tariff impact.