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European stocks advanced for the first time in three days as Federal Reserve chairman nominee Janet Yellen said she is committed to promoting a strong U.S. economic recovery and will ensure monetary stimulus isn’t removed too soon.

Yellen said the economy and labor market are performing “far short of their potential” and must improve before the central bank can begin reducing monetary stimulus.

Gross domestic product in the 17-nation euro area rose 0.1 percent in the three months through September, down from a 0.3 percent expansion in the second quarter, the European Union’s statistics office in Luxembourg said today. That’s in line with the median forecast in a Bloomberg News survey of 41 economists.

The Stoxx Europe 600 Index gained 0.8 percent to 322.43 at the close of trading.

National benchmark indexes rose in 16 of the 18 western European markets today. France’s CAC 40 added 1 percent, Germany’s DAX climbed 1.1 percent and the U.K.’s FTSE 100 increased 0.5 percent.

Bouygues jumped 6.2 percent to 29.52 euros. The French building and telecommunications company said third-quarter current operating profit rose to 542 million euros ($728 million) from 478 million euros a year earlier. Analysts surveyed by Bloomberg had forecast 465 million euros, according to the average of four estimates.

Zurich Insurance Group AG advanced 2.5 percent to 258.5 euros after it said third-quarter profit rose 64 percent, beating analysts’ estimates. Net income jumped to $1.1 billion from $672 million a year ago, Switzerland’s biggest insurer said in a statement. That beat the $993.5 million average estimate of eight analysts surveyed by Bloomberg.

Burberry Group Plc added 1.9 percent to 1,489 pence after saying first-half sales exceeded 1 billion pounds ($1.6 billion) for the first time as online revenue increased. Adjusted pretax profit for the six months ended Sept. 30 rose to 174 million pounds from 173 million pounds a year earlier, the U.K.’s largest luxury-goods maker also said in a statement.

RWE slipped 5.1 percent to 25.76 euros. The German utility company said that recurrent net income, the measure used to calculate the dividend, will drop to 1.3 billion euros to 1.5 billion euros in 2014 from around 2.4 billion euros forecast for this year.

German peer EON AG slid 1.7 percent to 13.54 euros. A gauge of utilities companies dropped the most of the 19 industry groups in the Stoxx Europe 600 Index.

U.S. stock-index futures rose, as Janet Yellen signaled she plans to continue the Federal Reserve’s monetary stimulus.

Global markets:

Nikkei 14,876.41 +309.25 +2.12%

Hang Seng 22,649.15 +185.32 +0.82%

Shanghai Composite 2,100.51 +12.57 +0.60%

FTSE 6,651.33 +21.33 +0.32%

CAC 4,266.44 +26.50 +0.63%

DAX 9,114.95 +60.12 +0.66%

Crude Oil $93.24 (-0.68%).

Gold $1284.80 (+1.29%).

European stocks advanced for the first time in three days as Federal Reserve chairman nominee Janet Yellen said the U.S. economy must improve before monetary stimulus is pared. U.S. index futures and Asian shares climbed.

The Stoxx Europe 600 Index gained 0.6 percent to 321.8 at 10:36 a.m. in London. The gauge has rallied for the past five weeks as the Fed maintained the pace of its bond purchases and the European Central Bank lowered its key interest rate.

“Yellen’s comments are well timed as investors are nervous about tapering,” Witold Bahrke, who helps oversee $55 billion as a senior strategist at PFA Asset Management in Copenhagen, said by phone. “There is a lot of noise at the moment and not much news, but right now the noise is supportive.”

Yellen said the economy and labor market are performing “far short of their potential” and must improve before the central bank can begin reducing monetary stimulus.

“A strong recovery will ultimately enable the Fed to reduce its monetary accommodation and reliance on unconventional policy tools such as asset purchases,” Yellen, the Fed’s current vice chairman, said in testimony prepared for her nomination hearing before the Senate Banking Committee. “I believe that supporting the recovery today is the surest path to returning to a more normal approach to monetary policy.”

Gross domestic product in the 17-nation euro area rose 0.1 percent in the three months through September, down from a 0.3 percent expansion in the second quarter, the European Union’s statistics office in Luxembourg said today. That’s in line with the median forecast of 41.

Bouygues (EN) jumped 6.4 percent to 29.56 euros. The French building and telecommunications company said third-quarter current operating profit rose to 542 million euros ($728 million) from 478 million euros a year earlier. Analysts had forecast 465 million euros, according to the average of four estimates.

K+S gained 5.3 percent to 21.64 euros after reporting third-quarter operating earnings of 115.8 million euros. The median forecast of analysts in a survey was for 106.5 million euros. Europe’s biggest producer of potash also said it plans to make 500 million euros in savings over the next three years to raise its competitiveness and counter weak potassium and potash markets.

Zurich Insurance Group AG (ZURN) advanced 2.2 percent to 257.7 euros after it said third-quarter profit rose 64 percent, beating analysts’ estimates. Net income jumped to $1.1 billion from $672 million a year ago, Switzerland’s biggest insurer said in a statement. That beat the $993.5 million average estimate of analysts.

FTSE 100 6,661.9 +31.90 +0.48%

CAC 40 4,260.45 +20.51 +0.48%

DAX 9,118.15 +63.32 +0.70%

Asian stocks rose, with the benchmark index heading for its biggest gain in four weeks, on speculation the next head of the Federal Reserve will maintain U.S. stimulus and as a falling yen boosted Japanese shares.

Nikkei 225 14,876.41 +309.25 +2.12%

S&P/ASX 200 5,355.43 +36.25 +0.68%

Shanghai Composite 2,100.51 +12.57 +0.60%

Sony Corp., a Japanese electronics maker that gets 68 percent of revenue abroad, added 2.3 percent.

Shandong Weigao Group Medical Polymer Co., a maker of medical products, jumped by a record 27 percent in Hong Kong after brokerages including UBS AG recommended the stock.

Tencent Holdings Ltd., Asia’s largest Internet company, gained 4.8 percent in Hong Kong after posting a 35 percent increase in revenue from online games

Nikkei 225 14,567.16 -21.52 -0.15%

S&P/ASX 200 5,319.18 -73.92 -1.37%

Shanghai Composite 2,087.94 -38.83 -1.83%

FTSE 100 6,630 -96.79 -1.44%

CAC 40 4,239.94 -23.84 -0.56%

DAX 9,054.83 -21.65 -0.24%

Dow 15,821.63 +70.96 +0.45%

Nasdaq 3,965.58 +45.66 +1.16%

S&P 500 1,782.00 +14.31 +0.81%