On Wednesday European stocks rose, rebounding from a two-year low, after three days of losses dragged the Stoxx Europe 600 Index near to the cheapest since 2008. Asian shares and U.S. index futures advanced.

Greek stocks gained as Germany’s top court rejected challenges to the participation of Europe’s largest economy in euro rescue funds. Cie. Financiere Richemont SA, owner of the Cartier watch brand, climbed 5 percent after revenue topped analyst estimates. Scor SE, France’s largest reinsurer, increased 2.8 percent after confirming targets. Renault SA led a rally in automakers.

The Stoxx 600 rose 1.9 percent in London. The gauge has still tumbled 22 percent from this year’s high in February as concern grew that Europe’s debt crisis is harming the economic recovery.

The Federal Reserve will release its Beige Book survey of the U.S. economic conditions today after the close of European trading. President Barack Obama will address Congress tomorrow on his plan to boost job growth.

Obama plans to propose sparking job growth by injecting more than $300 billion into the economy next year, mostly through tax cuts, infrastructure spending and direct aid to state and local governments.

Greek banks rallied, led by National Bank of Greece SA, the country’s largest, which gained 7.6 percent to 2.99 euros. EFG Eurobank Ergasias SA climbed 6.9 percent to 1.24 euros and Piraeus Bank SA jumped 7.4 percent to 58 euro cents.

Asian stocks gained, with the benchmark regional index set for its biggest rise in almost six months, after a three-day drop left valuations near a three-year low and as a weaker yen boosted the outlook for Japanese exporters.

Japan’s Nikkei 225 Stock Average rose the most in five months after the nation’s currency fell to a four-week low versus the dollar and the government pledged to ask Group of Seven officials to support a weaker yen.