European stocks opened on a kindly positive note on Friday, tracking gains in global bourses From Wall Street to Asia, with Japanese equities in particular marking its biggest weekly rally in three months. As of 04:11 a.m. ET, the Stoxx Europe 600 was up 0.19% around 335.40, with French carmaker Valeo SA rising 11.16% to 97.74 euros. The french caremaker led the winners on the Pan-European benchmark after reporting better than forecasted profits. Following suit, Remy Cointreau and Essentra Plc rose 5.2% to 62.52 euros and 3.85% to 887.50 pence, respectively. - London`s FTSE 100 rose 32.29 points or 0.47% to 6,845.28 - Pasris`s CAC 40 trade flat around 4,355.33 - Frankfurt`s DAX 40 fell 10.10 points or 0.10% to 9,608.75 The world`s largest eocnomy takes center stage after a mixed run of fundamentals this week. Meanwhile, traders eye fresh round of data from the US housing sector, with today`s existing home sales report exepcted to show a 5% dip in Janaury. Ukraine vs. EU sancions European Union govnerments imposed sanctions in Ukranian officials, forcing President Yanukovych to strike a deal with the opposition on Friday to halt the crisis after overnight talks witj EU ministers following deadly clashes overnight that left more 70 people killed and at least 360 injured. Citing the mounting risk that Yanukovych`s government will default on its debt, Standard & Poor`s cut Ukraine to CCC, eight levels below an investment rating, from CCC+ and kept its outook negative. "We now beleive it is likely that Ukraine will default in the absece of significantly favorable changes in circumstances. which we do not anticipate," S&P said on Friday.