European stocks advanced yesterday, with the Stoxx Europe 600 Index heading toward a third consecutive monthly gain, as investors awaited a speech by Federal Reserve Chairman Ben S. Bernanke. Asian shares fell and US index futures rose.

Hermes International SCA gained 1% after the maker of Birkin and Kelly bags raised this year’s sales-growth target as first-half earnings beat estimates. Bankia SA climbed 2.2% as Spain was said to be considering recapitalising the country’s largest nationalised lender with its own money.

The Stoxx 600 added 0.3% to 265.78 at 9:39am in London. European stocks are still heading toward a 0.8% drop this week amid signs that global economic growth is slowing and as the Spanish region of Catalonia asked for a bailout from the central government. Bernanke will deliver his annual speech on monetary policy at the central bank’s symposium in Jackson Hole, Wyoming today. His address in 2010 preceded a second round of quantitative easing to support growth.

Corn and soybean traders extended their longest bullish outlook in at least 11 months on speculation rain in the US will come too late to revive crops after the worst drought in a half century.

India’s economy grew more than estimated during the last quarter after the central bank cut interest rates to support spending at home as Europe’s debt crisis crimped export growth. Bonds fell and the rupee pared losses.

Japan stocks fell a second day after consumer prices data pointed to little progress in the fight against deflation and industrial production unexpectedly dropped amid concern about a deepening global slowdown. The Nikkei 225 Stock Average declined 1.6%. During this week the gauge fell 2.5%, paring the monthly advance to 1.7%. The broader Topix Index lost 1.6%.