European stocks climbed, extending a third consecutive weekly gain, as the Stoxx Europe 600 Index rose to its highest level in six years.

The Stoxx 600 rose 0.4 percent to 336.09 at the close of trading, for a 0.8 percent weekly gain. The gauge has rallied 5.8 percent since Feb. 4 as Federal Reserve Chair Janet Yellen’s pledge to continue her predecessor’s approach to stimulus policy fueled optimism that the U.S. economic recovery can withstand reduced monthly bond purchases.

National benchmark indexes climbed in 16 of 18 western-European market today. Germany’s DAX gained 0.4 percent, France’s CAC 40 added 0.6 percent and the U.K.’s FTSE 100 advanced 0.4 percent.

Vodafone rose 3 percent to 236.5 pence. The telecommunications company’s adjusted valuation after the disposal of its stake in Verizon Wireless may make it an attractive target for AT&T Inc., according to UBS analyst Nick Lyall. AT&T said on Jan. 27 it does not plan to make an offer for the U.K. wireless carrier, meaning it can’t offer to buy a stake of 30 percent or more in Vodafone for the following six months, according to U.K. takeover rules.

Valeo added 13 percent to 99.07 euros, its highest price since 1998, after saying earnings before interest, taxes and other expenses rose 16 percent to 411 million euros ($564 million) in the second half of 2013. That beat the 375 million-euro average of three analyst estimates compiled by Bloomberg.

Technip SA rose 2.5 percent to 71.74 euros, capping its largest two-day increase since May 2009. Societe Generale SA upgraded its rating on the stock to buy from neutral, saying Europe’s largest oilfield-services provider may begin to reduce costs as it introduces tighter controls on spending.

Kering SA slipped 2.3 percent to 151.45 euros. Sales at the Gucci brand, which made up about 37 percent of total revenue in 2013, rose 0.2 percent in the final three months of last year, according to a statement. That was the slowest quarterly growth in four years and trailed the 0.8 percent increase projected by analysts. Kering said recurring operating income fell to 1.75 billion euros in 2013 from 1.79 billion euros a year earlier. Analysts had predicted 1.77 billion euros.

U.S. stock futures rose, as Hewlett-Packard Co. and Priceline.com Inc. results topped estimates and investors awaited housing data.

Global markets:

Nikkei 14,865.67 +416.49 +2.88%

Hang Seng 22,568.24 +174.16 +0.78%

Shanghai Composite 2,113.69 -25.09 -1.17%

FTSE 6,825.69 +12.70 +0.19%

CAC 4,365.92 +10.43 +0.24%

DAX 9,626.25 +7.40 +0.08%

Crude oil $102.51 (-0.23%)

Gold $1322.90 (+0.46%).

European stocks climbed, extending a third consecutive weekly gain, as the Stoxx Europe 600 Index approached its highest level in six years. U.S. index futures and Asian shares also rose.

The Stoxx 600 rose 0.2 percent to 335.55 at 10:30 a.m. in London, heading for a 0.7 percent weekly gain. The equity gauge rallied 5.4 percent from Feb. 4 through yesterday as Federal Reserve Chair Janet Yellen’s pledge to continue her predecessor’s approach to stimulus policy fueled optimism that the U.S. economic recovery can withstand reduced monthly bond purchases.

U.S. data may show purchases of previously-owned homes fell 4.1 percent in January to a 4.67 million annual pace, according to the median projection of economists.

Valeo added 12 percent to 98.88 euros after saying earnings before interest, taxes and other expenses rose 16 percent to 411 million euros ($564 million) in the second half of 2013. That beat the 375 million-euro average of analyst estimates.

Axa lost 1.7 percent to 19.21 euros. The French insurer said net income climbed 10 percent to 4.48 billion euros in 2013, missing the average projection of 4.74 billion euros.

Technip SA (TEC) rose 2.2 percent to 71.56 euros, heading for its largest two-day increase since May 2009. Societe Generale SA upgraded its rating on the stock to buy from neutral, saying Europe’s largest oilfield-services provider may begin to reduce costs as it introduces tighter controls on spending.

Kering slipped 2.7 percent to 150.90 euros. Sales at the Gucci brand, which made up about 37 percent of total revenue in 2013, rose 0.2 percent in the final three months of last year, according to a statement. That was the slowest quarterly growth in four years and trailed the 0.8 percent increase projected by analysts. Kering said recurring operating income fell to 1.75 billion euros in 2013 from 1.79 billion euros a year earlier. Analysts had predicted 1.77 billion euros.

FTSE 100 6,828.18 +15.19 +0.22%

CAC 40 4,365.39 +9.90 +0.23%

DAX 9,619.81 +0.96 +0.01%

Asian stocks rose, with the regional benchmark index rebounding from its biggest drop in two weeks, after a larger-than-forecast climb in a measure of U.S. manufacturing tempered concern about global growth.

Nikkei 225 14,865.67 +416.49 +2.88%

S&P/ASX 200 5,438.7 +26.36 +0.49%

Shanghai Composite 2,113.69 -25.09 -1.17%

Samsung Electronics Co., which will unveil a high-end Galaxy phone next week, advanced 3.4 percent in Seoul.

Toyota Motor Corp. climbed 2.1 percent amid a rally in Japanese shares as the yen weakened against the dollar.

National Australia Bank Ltd. lost 1.8 percent in Sydney after the country’s biggest lender by assets flagged a possible increase in provisions at its British operations.