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European stocks advanced, with the region's equities rebounding from their biggest slide in two weeks, as companies from Repsol SA to Swiss Re Ltd. posted profit that exceeded analysts' estimates. U.S. index futures also rose, while Asian shares slumped, Bloomberg reported.

Repsol SA climbed 1.6 percent as quarterly profit jumped because of increased production. Swiss Re gained 3 percent after saying smaller losses from natural disasters helped net income surge in the third quarter. Siemens AG (SIE) rose 2.9 percent after Europe's largest engineering company announced that it plans to cut costs by 5 billion euros ($6.4 billion).

The Stoxx Europe 600 Index added 0.5 percent to 272.46 at 8:04 a.m. in London. The equity benchmark has rallied 16 percent from this year's low on June 4 as central banks around the world reduced borrowing costs and expanded asset-buying programs. Futures on the Standard & Poor's 500 Index gained 0.4 percent, while the MSCI Asia Pacific Index lost 1.4 percent.

The ECB will leave its benchmark interest rate at a record low of 0.75 percent, according to the median economist estimate in a Bloomberg News survey. President Mario Draghi will host a press conference at 2:30 p.m. in Frankfurt.

The Bank of England will also hold its key interest rate at a record low of 0.5 percent, said economists before an announcement at 12 p.m. in London.