European stocks advanced

European stocks advanced, after the Stoxx Europe 600 Index posted its longest streak of weekly losses in 14 months, as investors awaited signals from the Federal Reserve on stimulus measures. U.S. index futures and Asian shares also rose.

The Fed will hold its two-day policy meeting this week, with Bernanke explaining his stance after the central bank's decision on June 19. The Fed is buying $85 billion of Treasuries and mortgage securities a month to spur the economy, and has kept the target for overnight lending between banks at almost zero since December 2008.

Group of Eight leaders gather for a two-day summit in Northern Ireland today with trade near the top of the agenda. European leaders seeking a path to economic growth while curbing their debt will focus on the benefits of a trade agreement with the U.S. after the European Union authorized the start of talks.

Telefonica SA advanced 2.9 percent to 10.33 euros as El Mundo reported that Spain blocked AT&T Inc.'s takeover bid for the company because the Telefonica is "strategic" to Spain's economy. Spokeswoman Marisa Navas said the company didn't receive any formal or informal bid, indication or approach by AT&T.

ABB rose 1.4 percent to 20.47 Swiss francs after the company named Ulrich Spiesshofer, who has earlier overhauled the company's robotics division, as CEO. He will take over after Joe Hogan steps down on Sept. 15.

Imagination Technologies Group Plc fell 2.2 percent to 308.4 pence as Barclays Plc cut the U.K. designer of chip technology for phones and tablets to equal weight, the equivalent of hold, from overweight.

FTSE 100 6,358.99 +50.73 +0.80%

CAC 40 3,872.29 +67.13 +1.76%

DAX 8,240.46 +112.50 +1.38%