European stocks advanced, rebounding from two days of losses, after Janet Yellen, nominated to be the next chairman of the Federal Reserve, said the U.S. economy must improve before monetary stimulus is pared. U.S. index futures and Asian shares also climbed.
Burberry Group Plc added 1.8 percent after saying first-half sales exceeded 1 billion pounds ($1.6 billion) for the first time as online revenue advanced. K+S AG rose 3.4 percent after reporting third-quarter earnings that beat estimates. RWE AG slid 5.7 percent after forecasting profit next year will almost halve because of weak power prices.
The Stoxx Europe 600 Index gained 0.8 percent to 322.48 at 8:05 a.m. in London. The gauge rallied for the past five weeks as the Federal Reserve maintained bond purchases and the European Central Bank lowered its key interest rate. Standard & Poor’s 500 Index futures rose 0.3 percent, while the MSCI Asia Pacific Index gained 0.9 percent.
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