On Friday European stocks and U.S. index futures climbed, with the benchmark Stoxx Europe 600 paring this week’s losses, before reports forecast to show economic growth quickened and consumer confidence improved in the U.S.

Cie. de Saint-Gobain SA, Europe’s biggest supplier of building materials, rallied 4.7% after its chief executive officer told analysts that net income will advance this year. Telecom Italia SpA gained 4.7% after Italy’s largest phone company forecast that its dividend will increase at an annual pace of 15% through 2013.

European stocks rose in early trade, taking a breather after a week-long retreat, but ongoing turmoil in OPEC producer Libya kept gains in check. Trading in British shares was halted at the open on Friday due to technical issues. Bourse operator London Stock Exchange could not say when the market would reopen. The FTSEurofirst 300 index of top European shares was up 0.6%, after losing 3.5% over the past week.

The U.N. Security Council was to meet during the day to discuss a draft proposal for sanctions against Libyan leaders, and despite assurances by Saudi Arabia that it would step in to fill any shortfall, oil prices resumed their rally, lifted by fears of output disruptions.

Shares in EADS featured among the top losers, down 1.8% after the Airbus parent lost a $30 billion contract for 179 new U.S. Air Force refueling planes to U.S. rival Boeing. Shares in construction and building materials gained ground, as investors cheered Saint-Gobain's strong results and outlook.

Japanese stocks rose for the first time in four days as oil retreated and economic reports tempered concern about turmoil in the Middle East. The Nikkei 225 Stock Average rose 0.7% while the Topix index gained 0.8%