On Friday European stocks pared their advance as mining and telecommunications companies fell, offsetting Italian Prime Minister Mario Monti’s claim that most European Union leaders support joint bonds for the euro area. U.S. index futures gained, while Asian stocks slipped.

The Stoxx Europe 600 Index added 0.1 percent to 242.03 at 10:45 a.m. in London, paring an earlier rally of as much as 0.8 percent. The gauge is heading toward a 1.3 percent advance this week, its first gain in May, amid speculation China and the euro area will take steps to bolster economic growth.

The Stoxx 600 surged 1 percent on Thursday as investors speculated that the previous three straight weeks of losses for the benchmark measure were overdone considering the outlook for company earnings.

Monti told Italian television station La7 on Thursday that the majority of EU leaders at a Brussels meeting this week backed joint euro-area bonds. He added that Italy can help persuade Germany to support Europe’s “common good” as well.

“Europe can have euro bonds soon,” Monti said. Germany has an interest in ensuring no country leaves the euro, while Greece will probably remain in the single currency, he said in the interview. Euro-area bonds lower borrowing costs for the currency’s most debt-stricken members by making repayment the responsibility of all 17 countries.

Most Japanese stocks fell on concern European leaders won’t be able to keep Greece from exiting the monetary union and on speculation shares were undervalued. The Topix Index declined for an eighth week, its longest losing streak since November 1977. The Topix slid less than 0.1 percent while the Nikkei 225 Stock Average added 0.2 percent.