On Friday stocks in Europe and Asia rose, extending the sixth straight weekly gains for the regional indexes, after Toshiba Corp. posted results that beat forecasts and memory-chip prices increased. US futures fluctuated.

European shares extended gains at midday with banking stocks higher after Citigroup reported better than expected results for the first quarter. The US financial group posted revenue of $24.8 billion and a loss of 18 cents per share. Consensus estimates were for revenue of $21.7 billion and a loss of 30 cents per share.

CNBC parent General Electric also reported a better-than-expected first quarter profit of 26 cents per share. The industrial giant narrowly missed expectations with quarterly revenue of $38.4 billion, down nine per cent. Nokia added 2.2 per cent after rising more than nine per cent on Thursday as investors cheered the mobile phone maker's outlook.

The pan-European FTSEurofirst 300 index of top shares was up one per cent. Banks added the most points to the index. Barclays, UBS, Lloyds Banking Group and National Bank of Greece were up between 4.8 and nine per cent.

Japanese stocks rose, paring a weekly decline, on optimism a recovery in demand will boost earnings at steel mills and electronics makers. The Nikkei 225 Stock Average climbed 1.7 per cent. The broader Topix index advanced 1.6 per cent, paring its drop this week to less than 0.1 per cent. The Nikkei lost 0.6 percent on the week, its first weekly drop since the period ended on 6 March.

Overnight US stocks rallied as reassuring results from bellwethers, including Google, lifted technology shares and JPMorgan's better-than-expected profit added to banking sector stabilisation hopes.

Stock futures pared losses but continued to indicate a flat open despite slightly better-than-expected first-quarter earnings results from Dow components Citigroup and General Electric.

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