European stocks were subdued on Friday as tech losses offset some of the broader gains, while investors assessed the fallout from renewed tensions in the Middle East that put the European benchmark on track for a weekly decline.

The pan-European STOXX 600 index edged up 0.2% to 642.42 points by 0714 GMT, but remained on track for a weekly loss that would snap a four-week winning streak, according to Reuters.

Most sectors on the index posted gains, with mining stocks leading the winners, up 2%.

Travel and leisure shares also rose around 1%, supported by strong gains in airline stocks. British low-cost carrier easyJet jumped 13.4% after it announced preliminary approval for a £5.7 billion ($7.65 billion) takeover offer from Apollo Global.

In contrast, chipmaker stocks came under pressure, with Siltronic falling 2%, Soitec down 2.8%, and ASML declining 2%.

Caution prevailed among investors ahead of the listing of South Korean chipmaker SK Hynix on the U.S. market, amid ongoing concerns about elevated valuations of AI companies that could limit the stock's ability to gain further.

On the geopolitical front, Iranian forces launched attacks on Thursday targeting U.S. military facilities in Gulf states, further undermining the fragile three-week-old ceasefire and keeping markets uncertain about the conflict's trajectory and economic fallout.