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European shares rise for third straight session

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European shares rise for third straight session
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 19, 2019. REUTERS/Staff   -   Copyright  STAFF(Reuters)
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(Reuters) – European shares rose for the third straight session on Tuesday, building on a recovery since late last week as British drugmaker AstraZeneca surged on results of a late-stage study.

Shares of the drugmaker <AZN.L> rose 1.5% after the company said its diabetes drug Farxiga met the main goal of the study for the treatment of patients with heart failure.

The pan-European STOXX 600 index <.STOXX> was up 0.1% by 0712 GMT, with London’s FTSE 100 <.FTSE> outperforming.

Pandora A/S <PNDORA.CO> jumped 6.4% to the top of the STOXX 600 index on Tuesday after the Danish jewellery maker maintained its full-year guidance.

However, a fall in bank shares <.SX7P> and auto parts makers <.SXAP> capped gains.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

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