European stocks close:
European stocks posted the largest weekly gain in 14 months, paring a quarterly loss, as German backing for an enhanced euro-area rescue fund eased concern that policy makers will be unable to contain the debt crisis and U.S. jobs and growth data beat forecasts.
Allianz SE and Axa SA led a gauge of insurers to the biggest jump since March 2009. Societe Generale (GLE) SA, France’s second-largest bank, and KBC Groep NV, Belgium’s biggest lender by market value, climbed more than 20 percent. Lundin Petroleum AB soared 44 percent after increasing its estimate of recoverable resources for an oil prospect.